Question

What is one distinguishing factor about each of the four major economic industries?

A) They all primarily deal with the production of physical goods.

B) They all have a high dependence on technology and innovation.

C) They are characterized by different primary economic activities and products.

D) They all have similar labor and capital requirements.

Answer 1

Each of the four major economic industries is distinguished by its unique focus: the primary sector on raw materials, the secondary on manufacturing, the tertiary on services, and the quaternary on idea generation.

Step-by-step explanation:

One distinguishing factor about each of the four major economic industries is their focus on specific types of economic activities and the products they generate. The primary sector is concerned with the extraction and production of raw materials, such as metals and crops. The secondary sector takes these raw materials and converts them into finished goods. The tertiary sector is service-oriented, providing services like childcare, healthcare, and money management. Finally, the quaternary sector is involved in the generation of ideas, encompassing activities such as research and development, information management, and advanced education and arts.