Question

What are the two main sectors of the economy?


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Answer 1

The main sectors of the economy are: Primary sector – extraction of raw materials – mining, fishing and agriculture. Secondary / manufacturing sector – concerned with producing finished goods, e.g. Construction sector, manufacturing and utilities, e.g. electricity.

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Answer 2

There are only two sectors in the economy; household sector and business sector. No government interventions over the economic activities. Business sectors do not carry out any import or export activities, creating a closed economy.

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