Question

Classify economic activities with suitable examples.

Answer 1

Economic activities are classified into three types Primary, secondary and tertiary activities.

1. PRIMARY ACTIVITIES : Primary activity in closed doors occupations which are closely related to man's natural environment. Fishing, lumbering, farming and mining are some of the important examples of primary activity.

2. SECONDARY ACTIVITIES: The occupations which produce finished goods by using the production of primary activities as raw materials are included in the secondary activity. Manufacturing of cloth from cotton, sugar from sugarcane and steel from iron ore important examples of secondary activity.

3. TERTIARY ACTIVITIES: Tertiary activity consists of all service occupations that are provided to primary and secondary activities. Transport, communication, trade, health, education and administration are important examples of tertiary activity.

Answer 2

Classification of economic activities:

Economic activity is the action of making, giving, purchasing, or marketing goods or services. Any action that includes producing, allocating, or consuming products or facilities is an economic activity.

There are four basic categories of economic activities:

• The Primary Sector that is raw materials.

• The Secondary Sector, which comprises industry and manufacturing.

• The Tertiary Sector that is services.

• The Quaternary Sector, which we also appeal to the ‘knowledge sector.’

Hope it helped...