Which of the following statements about the sectors of the economy is CORRECT?
Question and options
Which of the following statements about the sectors of the economy is CORRECT?
- Quaternary activities involve research, development, and innovation in technology and sciences.
- Tertiary activities include agriculture, mining, and fishing.
- Primary activities involve processing raw materials for finished goods.
- Secondary activities encompass trade and commerce in goods and services.
Answer and explanation
Correct answer: A - Quaternary activities involve research, development, and innovation in technology and sciences.
Quaternary activities are knowledge-based (R&D, information, innovation). Agriculture, mining and fishing are primary activities, processing raw materials is secondary, and trade and commerce are tertiary, so the other statements mislabel the sectors.
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