Sectors of an Economy - JSS3 Social studies Past Questions and Answers - page 2
What is the main focus of the tertiary sector in the Nigerian economy?
Manufacturing
Providing services
Agriculture
What term is used to categorize economic activities based on the type of goods or services produced?
Economic segmentation
Economic sectors
Economic specialization
Provide examples of economic activities in the primary sector.
Economic activities in the primary sector include agriculture (farming), mining, and forestry.
What role does the secondary sector play in economic development, and can you give specific examples?
The secondary sector, involving manufacturing and construction, adds value to raw materials. Examples include automobile manufacturing and steel production.
How does the tertiary sector contribute to the overall economy, and can you mention some services in this sector?
How does the tertiary sector contribute to the overall economy, and can you mention some services in this sector?
Why is balancing economic sectors important for a country's development, and what are the benefits of a diversified economy?
Balancing sectors ensures resilience, reduces dependency on one sector, and promotes sustainable development. A diversified economy minimizes risks and supports overall growth.
What are the primary contributions of agriculture to the Nigerian economy, and how does it impact employment?
Agriculture contributes raw materials and plays a significant role in employment, providing jobs for a large portion of the population.
Explain the significance of manufacturing and industry in the secondary sector, and how it adds value to raw materials.
Manufacturing and industry in the secondary sector create jobs and add value by processing raw materials into finished goods, fostering economic development.
How does the tertiary sector enhance the quality of life for citizens, and can you give examples of specific services in Nigeria?
The tertiary sector improves quality of life by providing services such as education, healthcare, banking, and entertainment, contributing to societal well-being.
Why is economic diversification important for Nigeria, and how can it reduce vulnerability to economic fluctuations?
Economic diversification is crucial for Nigeria to reduce dependency on oil and other single sectors, making the economy more resilient to external shocks and fluctuations.