Multiple Choice
Which of the following is NOT typically considered a reason why individuals become entrepreneurs?
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0. Basic Principles of Economics
Introduction to Economics
Multiple Choice
Which of the following services or businesses would likely not be found in a lower-order settlement?
A
A local bakery
B
A convenience store
C
A primary school
D
A specialized hospital
Verified step by step guidance1
Understand the concept of 'lower-order settlements' in urban economics: these are smaller towns or villages that provide basic goods and services to their residents and nearby rural areas.
Recall the idea of 'central place theory,' which explains that lower-order settlements typically offer low-threshold, frequently demanded goods and services such as groceries, basic education, and everyday necessities.
Identify the types of services listed: a local bakery, a convenience store, and a primary school are all examples of basic, everyday services that meet the needs of local residents and are commonly found in lower-order settlements.
Recognize that a specialized hospital provides advanced medical services that require a larger population base to be economically viable, and thus is usually located in higher-order settlements or larger cities.
Conclude that among the options, the specialized hospital is the service least likely to be found in a lower-order settlement because it serves a wider area and requires more resources and specialized staff.
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