Write True or False after each of these sentences. 1. Factors of production refer to the resources required for the generation of goods and services. 2. The secondary sector refers to the construction and manufacturing industries. 3. Service industries manufacture physical products for sale to consumers. 4. Industries such as agriculture, fishing and forestry are based on a country's natural resources. 5. Indigenous firms are foreign owned firms located in Ireland.

Leaving Cert Business Sectors: Primary, Secondary, Tertiary: Write True or False after each o

Write True or False after each of these sentences - Leaving Cert Business - Question 4 - 2015

Question 4

Write True or False after each of these sentences. 1. Factors of production refer to the resources required for the generation of goods and services. 2. The second... show full transcript

Worked Solution & Example Answer:Write True or False after each of these sentences - Leaving Cert Business - Question 4 - 2015

Step 1

1. Factors of production refer to the resources required for the generation of goods and services.

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Answer

True. Factors of production include land, labor, capital, and entrepreneurship, which are necessary for producing goods and services.

Step 2

2. The secondary sector refers to the construction and manufacturing industries.

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Answer

True. The secondary sector encompasses industries that process raw materials into finished goods.

Step 3

3. Service industries manufacture physical products for sale to consumers.

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Answer

False. Service industries primarily provide services rather than manufacturing physical products.

Step 4

4. Industries such as agriculture, fishing and forestry are based on a country's natural resources.

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Answer

True. These industries utilize natural resources to produce goods.

Step 5

5. Indigenous firms are foreign owned firms located in Ireland.

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Answer

False. Indigenous firms refer to businesses that are owned and operated by residents of the country, not foreign entities.

Write True or False after each of these sentences - Leaving Cert Business - Question 4 - 2015

Worked Solution & Example Answer:Write True or False after each of these sentences - Leaving Cert Business - Question 4 - 2015

1. Factors of production refer to the resources required for the generation of goods and services.

2. The secondary sector refers to the construction and manufacturing industries.

3. Service industries manufacture physical products for sale to consumers.

4. Industries such as agriculture, fishing and forestry are based on a country's natural resources.

5. Indigenous firms are foreign owned firms located in Ireland.

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