bring out the role of the three sectors of production with examples
Answers
Answer:
there are three sectors of economy of any country : primary , secondary,and tertiary sector
Explanation:
primary sector
it is the back bone of any economy as it gives us major raw materials that are required to satisfy the needs of above two sectors this sector is also called as agirculture sector
eg .raw materials from forests.
secondary sector
this sector takes primary raw materials and makes the products or intermediate products . it 9s also called as industrial sector
eg industries
tertiary sector
this sector gives us final products and services
this is also called as service sector
eg teaching banking etc
all these are interdependent on each other
Answer:
According to World Economic Outlook report of IMF, India's economy is expected to grow by 7.5 per cent in the 2019-20 fiscal year, keeping an upward trajectory as the rest of the world slumps.
According to report "India's economy is poised to pick up in 2019, benefiting from lower oil prices and a slower pace of monetary tightening than previously expected, as inflation pressures ease," the report said.
As per Central Statistics Office (CSO), Ministry of Statistics and Programme Implementation (MOSPI), the growth in GDP during 2018-19 is estimated at 7.2 percent as compared to the growth rate of 6.7 per cent in 2017-18.
Economic Sectors
Economic activities result in the production of goods and services while sectors are the group of economic activities classified on the basis of some criteria.
The Indian economy can be classified into various sectors on the basis of ownership, working conditions and the nature of the activities.
All economic activity was in the primary sector during early civilisation. After the surplus production of food, people’s need for other products increased which led to the development of the secondary sector.
The growth of secondary sector spread its influence during the industrial revolution in the nineteenth century.
A support system was needed to facilitate the industrial activity. Certain sectors like transport and finance played an important role in supporting the industrial activity.
Primary Sector
In Primary sector of economy, activities are undertaken by directly using natural resources. Agriculture, Mining, Fishing, Forestry, Dairy etc. are some examples of this sector.
It is called so because it forms the base for all other products. Since most of the natural products we get are from agriculture, dairy, forestry, fishing, it is also called Agriculture and allied sector.
People engaged in primary activities are called red-collar workers due to the outdoor nature of their work.
Secondary Sector
It includes the industries where finished products are made from natural materials produced in the primary sector. Industrial production, cotton fabric, sugar cane production etc. activities comes under this sector.
Hence its the part of a country's economy that manufactures goods, rather than producing raw materials
Since this sector is associated with different kinds of industries, it is also called industrial sector.
People engaged in secondary activities are called blue collar workers.
Examples of manufacturing sector:
Small workshops producing pots, artisan production.
Mills producing textiles,
Factories producing steel, chemicals, plastic, car.
Food production such as brewing plants, and food processing.
Oil refinery.
Core Industries