Final answer:
The statement is True, as the primary sector of an economy includes activities such as mining, agriculture, fishing, and forestry, which involve the extraction of natural resources.
Step-by-step explanation:
The statement that the primary sector of an economy involves the mining of the earth's resources, including food production (agriculture and fishing) and forestry, is True. The primary sector encompasses all activities that are related to the extraction and collection of natural resources. This includes not only mining but also agriculture, where food is produced through farming and livestock, fishing which provides seafood, and forestry for timber and related products.
Industries within the primary sector are critical for the foundation of an economy, especially in regions where the earth yields valuable resources which can then be traded or sold. These natural resources are essential for both local economies and the global market. However, it's important to address that while primary sector jobs can be resource-intensive and offer local economic benefits, they can also lead to environmental degradation and may not be sustainable long-term without proper management and technological advancements.
The impact of the primary sector on an economy is profound, influencing not only local job creation but also national income and the balance of trade. In the United States, for example, despite a significant decrease in the number of people directly employed in primary sector jobs such as farming, these industries remain an important segment of the economy due to advances in productivity and technology.