Question

Banking is an example of

(a)Secondary activity (b)Tertiary activity (c)Primary activity (d)Both a and b
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Answer 1

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Answer 2

Banking is an example of

(a) Secondary activity (b)Tertiary activity (c) Primary activity (d) Both a and b

Correct answer:

(b)Tertiary activity

Explanation:

Banking is a tertiary activity among the following. Tertiary activity is considered under the service sector. Tertiary activity is the activity in which the work related to service is done. Like hospital, bank, school etc.

Banking is a service sector that provides financial services to the general public. Hence banking comes under tertiary sector. In the tertiary sector there is no manufacturing activity but only service activity.

There are three sectors of the economy, primary sector, secondary sector and tertiary sector.

Activities like fisheries, animal husbandry, agriculture, mining etc. take place in the primary sector.

Manufacturing and industry related activities take place in the secondary sector.

Service related activities take place in the tertiary sector.

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