There Are Three Sectors of Economic Activity: the Primary Sector

question 60

True/False

There are three sectors of economic activity: the primary sector, the secondary sector, and the service sector.

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Definitions:

Price of Goods

the monetary value assigned to physical products that are available for sale in the market.

Tender of Delivery

The act of presenting goods for acceptance to the buyer and notifying them that the goods are available as per the contract.

Conform to the Contract

The requirement that parties involved in a contractual agreement adhere to the terms set forth within the contract.

Lots

Parcels or portions of land, often used in the context of real estate transactions.