Which of the following is NOT within the secondary economic sector ?
Correct answer: B. Oil drilling
- A. Home construction
- B. Oil drilling
- C. Salmon canning
- D. All of these
Explanation
Oil drilling is part of the primary sector because it extracts a natural resource directly from the earth. Home construction and salmon canning involve processing or manufacturing, so they belong to the secondary sector.
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Individual consumers, firms and markets are examined through demand and supply, elasticity, consumer choice, production, costs, revenue and the determination of prices and output. The topic also covers market structures such as perfect competition, monopoly and oligopoly, plus market failure, externalities and the distinction between microeconomic decisions and economy-wide outcomes.
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