Service Industries Are Commonly Referred to as _____ Industries

question 18

Multiple Choice

Service industries are commonly referred to as _____ industries.

• A)tertiary
• B)secondary
• C)quaternary
• D)quinary

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Definitions:

Indifference Curve

A graph showing a combination of two goods that give a consumer equal satisfaction and utility, representing preferences without implying greater or lesser utility.

Convex

A shape that curves outward, or a mathematical concept that implies a set or function that holds certain properties related to this outward curvature.

Concave

A shape or curve that curves inward, resembling the inner surface of a sphere or circle, often used in mathematics and economics.

Money Income

The total amount of monetary earnings received by an individual or household, including wages, salaries, benefits, and other income sources.