Basic Economic Entities in an Economy — Important Questions
ICSE · Class 9 · Economics
55 important questions from Basic Economic Entities in an Economy for ICSE Class 9 Economics, with answers. Part of the ICSE Class 9 Economics syllabus.
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Important Questions from Basic Economic Entities in an Economy
Which are the two main functions of an economy?
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To produce goods and services, To provide employment or income earning opportunities
An economy mainly produces goods and services and also provides employment or income earning opportunities to people.
Which activities belong to the primary sector?
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Agriculture, Fishing
Primary sector activities are based directly on natural resources, such as agriculture and fishing.
Which of the following are secondary sector activities?
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Manufacturing industries, Construction, Utilities
The secondary sector includes manufacturing industries, construction, and utilities.
Which sector is also called the service sector?
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Tertiary sector
The tertiary sector provides services rather than goods, so it is called the service sector.
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