Workers in the Alberta Oil Sands Are Involved in What

question 114

Multiple Choice

Workers in the Alberta oil sands are involved in what form of production?

• A) primary sector
• B) secondary sector
• C) tertiary sector
• D) macro sector

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Definitions:

Economies of Scale

Economies of scale occur when increasing the production scale leads to a decrease in the long-term average costs, often due to more efficient use of inputs.

Exclusive Franchise

A legal agreement granting one party the sole right to sell or distribute a company's products or services in a particular market area.

Conglomerate Merger

involves the combination of firms that operate in unrelated business areas, aiming for diversification and reduced business risk.

Distinct Industries

Different sectors of the economy that produce different types of goods or services, characterized by unique products, markets, and production processes.