Question

Classify the economy on the basis of the nature of the activity. ​

Answer 1

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➣ Classification of economic sectors on the basis of nature of activities are as follows:

(i) Primary sector :

➠ When we produce goods by exploiting natural resources, it is an activity of the primary sector, such as agriculture, dairy farming, fishing, forestry.

(ii) Secondary sector :

➠ In this, natural products are changed into other forms through manufacturing that we associate with industrial activity.

➠ The product is not produced by nature but has to be made and therefore, some process of manufacturing is essential.

➠ For example, using cotton fibre from the plant we spin, yarn and weave cloth.

(iii) Tertiary sector :

➠ It helps in the development of the primary and secondary sectors.

➠ They provide aid or a support for the production process.

➠ Transport, storage, communication, banking, trade are some examples of tertiary activities.

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Answer 2

WE can classify the economic sector on the basis of nature of activities in three sectors, namely, Primary, Secondaiy and Tertiary sector.

The product we get from the nature belongs to primary sector as agriculture.

The manufacturing sector where the goods are produced can be classified as secondary sector (Products that are manufactured and are atleast - partly artificial / man made material).

The service sector can be classified as Tertiary sector (Products that are not goods but are services rendered by people either to others or for production (engineering, transport, banking etc.)

hope it helps you