When python is running in the interactive mode and displaying the chevron prompt (> > > ) - what question is python asking you?

Python is asking: What Python statement would you like me to run?                          

Explanation:

When you start python, it displays a start up message along with >>>  sign which is called chevron. The chevron is a prompt which indicates that the interpreter is waiting for you to type a statement or an expression.

The chevron prompt is used by the interpreter which means that the interpreter is ready. Then you can type an expression or statement and it gives response accordingly by evaluating that expression.