discuss in brief the three types of economic activities
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The three types of economic activities are described below:
(i)Primary Activities: Primary activities include all those connected with extraction and production of natural resources.
Examples: agriculture, fishing, mining.
(ii)Secondary Activities: Activities which are concerned with the processing of natural resources are called secondary activities.
Examples: manufacturing of finished steel and baking of bread.
(iii)Tertiary Activities: It provide support to primary and secondary sectors through services.
Examples: advertising and banking.
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Some three-sector model in economics divides economies into three sectors of activity: extraction of raw materials (primary), manufacturing (secondary), and services (tertiary). ... Countries in a more advanced state of development, with a medium national income, generate their income mostly in the secondary sector...
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