Multiple Choice
Which basic economic goal is most easily achieved in a traditional economy?
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0. Basic Principles of Economics
Introduction to Economics
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Join thousands of students who trust us to help them ace their exams!Watch the first videoMultiple Choice
Which sector of Germany's economy contributes the highest share to its GDP?
A
Industry
B
Agriculture
C
Services
D
Technology
Verified step by step guidance1
Understand the three main sectors of an economy: Agriculture, Industry, and Services. Agriculture involves farming and raw material extraction, Industry includes manufacturing and construction, and Services cover activities like retail, healthcare, education, and finance.
Recall that in most developed economies, the Services sector typically contributes the largest share to GDP because of the high demand for services and advanced economic development.
Consider Germany's economic structure, which is highly developed and industrialized, with a strong emphasis on manufacturing (Industry) but also a significant Services sector.
Recognize that while Industry is important in Germany, the Services sector generally accounts for the largest portion of GDP due to its broad range of activities and employment.
Conclude that among the options given (Industry, Agriculture, Services, Technology), the Services sector contributes the highest share to Germany's GDP.
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