In a pure market economy, the two groups that make economic decisions are:
- buyers
- sellers
So, the correct responses would be "buyers" and "sellers."
Multiple Choice
Which two groups make economic decisions in a pure market economy?
(1 point)
Responses
buyers
buyers
government planners
government planners
sellers
sellers
Congress
5 answers
What do primary, secondary, and tertiary economic activities have in common?
(1 point)
Responses
They all relate mostly to goods rather than to services.
They all relate mostly to goods rather than to services.
They are all dictated by government rules and regulations.
They are all dictated by government rules and regulations.
They all rely directly on natural resources.
They all rely directly on natural resources.
They are all part of the exchange of goods and services in a market economy.
(1 point)
Responses
They all relate mostly to goods rather than to services.
They all relate mostly to goods rather than to services.
They are all dictated by government rules and regulations.
They are all dictated by government rules and regulations.
They all rely directly on natural resources.
They all rely directly on natural resources.
They are all part of the exchange of goods and services in a market economy.
The correct response is:
- They are all part of the exchange of goods and services in a market economy.
Primary, secondary, and tertiary economic activities represent different sectors of the economy that contribute to the production and distribution of goods and services.
Which of the following correctly shows the order of a primary activity, secondary activity, and service activity?
(1 point)
Responses
A grocery store sells flour → a farmer grows wheat → a mill turns wheat into flour.
A grocery store sells flour → a farmer grows wheat → a mill turns wheat into flour.
A mill turns wheat into flour → a grocery store sells flour → a farmer grows wheat.
A mill turns wheat into flour → a grocery store sells flour → a farmer grows wheat.
A farmer grows wheat → a mill turns wheat into flour → a grocery store sells flour.
A farmer grows wheat → a mill turns wheat into flour → a grocery store sells flour.
A mill turns wheat into flour → a grocery store sells flour → a farmer grows wheat.
(1 point)
Responses
A grocery store sells flour → a farmer grows wheat → a mill turns wheat into flour.
A grocery store sells flour → a farmer grows wheat → a mill turns wheat into flour.
A mill turns wheat into flour → a grocery store sells flour → a farmer grows wheat.
A mill turns wheat into flour → a grocery store sells flour → a farmer grows wheat.
A farmer grows wheat → a mill turns wheat into flour → a grocery store sells flour.
A farmer grows wheat → a mill turns wheat into flour → a grocery store sells flour.
A mill turns wheat into flour → a grocery store sells flour → a farmer grows wheat.
The correct order showing a primary activity, secondary activity, and service activity is:
- A farmer grows wheat → a mill turns wheat into flour → a grocery store sells flour.
This sequence reflects:
- Primary activity - farming (growing wheat)
- Secondary activity - manufacturing (turning wheat into flour)
- Service activity - retail (selling flour)
1 answer