3.1 Classification and changes over time Flashcards

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1
Q

Economic Activity

A

The various actions and processes that contribute to the production, distribution, and consumption of goods and services within an economy.

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2
Q

Economic Sectors

A

The categories or divisions of economic activity that help classify and analyze different types of economic processes within a country or region.

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3
Q

Primary Sector

A

The sector of the economy focused on extracting and harvesting natural resources, such as agriculture, mining, and forestry.

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4
Q

Secondary Sector

A

The sector of the economy that involves manufacturing and processing raw materials into finished goods, including industries like manufacturing and construction.

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4
Q

Tertiary Sector

A

The sector of the economy that focuses on providing services rather than tangible goods, such as retail, healthcare, and education.

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4
Q

Employment

A

The state of being engaged in paid work or having a job, a key indicator of a country’s economic health.

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5
Q

Unemployment

A

The condition of being without a job despite actively seeking employment, which can be an economic and social concern.

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5
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