Question 1

What does 'People as Resource' refer to?

Accepted Answer

'People as Resource' refers to a country's working population in terms of their existing productive skills and abilities. By pooling the educational attainment and health status of a population, human resource contributes to the Gross National Product (GNP). Like other resources such as land and phy

Question 2

Which sector includes agriculture, forestry, animal husbandry, and fishing?

Accepted Answer

Economic activities are broadly classified into three main sectors: primary, secondary, and tertiary. The primary sector includes agriculture, forestry, animal husbandry, fishing, poultry farming, and mining. This sector is directly dependent on the extraction of natural resources.

Question 3

Manufacturing is included in which of the following economic sectors?

Accepted Answer

Manufacturing falls under the secondary sector. The secondary sector includes activities where primary goods are transformed or manufactured into new products, such as manufacturing goods in factories, construction, and industries.

Question 4

Trade, transport, communication, and banking are examples of which sector?

Accepted Answer

Trade, transport, communication, banking, education, health, tourism, etc., are part of the tertiary sector (also known as the service sector). This sector provides services that support the primary and secondary sectors as well as direct consumer services.

Question 5

What are economic activities?

Accepted Answer

Economic activities are those activities that add value to the national income. They are divided into market activities (production for profit or remuneration) and non-market activities (production for self-consumption).