Question

Discuss the three sectors of economy? explain.

Answer 1

Answer:

1. Primary Sector:for raw materials
2. Secondary Sector:for producing finished goods
3. Tertiary Sector:for offering intangible goods and services to consumers

Answer 2

The three sectors of economy are :

Production : production means creation of and addition to utilities.

Consumption: the demand of final goods and services for using and deriving utility out of them for satisfaction of wants.

Investment: the creation of new equipments and machines to produce goods and sevices