The creation of goods and services to satisfy human wants is referred to as?
manufacturing
commercialization
production
entrepreneurship
Correct answer is C
Production is the organised activity of transforming resources into finished products in the form of goods and services
Service rendered to the public is provided by?
governement
civil servants
professionals
domestic servants
Correct answer is B
civil servants are people working in the public sector. An employee of the civil service is basically employed by the government to impartially implement their policies and laws. As a result, civil service employees often work in areas that highly affect people's everyday life (e.g. health and education).
An oil exploration company is engaged in?
tertiary production
constructive occupation
extractive occupation
secondary production
Correct answer is C
A primary or extractive occupation is occupations concerned with the production of primary products or products that are extracted from nature. Examples of Extractive occupation: farmer, fishing, mining, oil exploration etc
The three main classification of occupation are?
construction, trade and services
manufacturing, industry and services
farming, banking and trading
industry, commerce and services
Correct answer is D
occupations can be classified into three categories:
- Industry
- Commerce
- Service
The most important function of commerce is in?
enhancing business relationships
helping people to improve their profits
facilitating exchange among individuals and firms
assisting trade through banking and insurance
Correct answer is C
commerce plays an important role in the distribution of goods. It makes available to the users goods produced in different parts of a country as well as from other countries.