Multiple Choice
Which of the following is a factor that is likely to affect the market price of a stock?
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0. Basic Principles of Economics
Factors of Production
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Join thousands of students who trust us to help them ace their exams!Watch the first videoMultiple Choice
A corn farm, a coal mine, and a fishing company are all part of the _________ industry.
A
secondary
B
quaternary
C
primary
D
tertiary
Verified step by step guidance1
Understand the classification of industries based on the type of economic activity they perform.
Recall that the primary industry involves the extraction and harvesting of natural resources directly from the Earth, such as farming, mining, and fishing.
Recognize that a corn farm produces agricultural products, a coal mine extracts minerals, and a fishing company harvests fish, all of which are activities related to natural resource extraction.
Identify that these activities fall under the primary industry because they involve obtaining raw materials from nature.
Conclude that the corn farm, coal mine, and fishing company are all part of the primary industry.
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