Do you think the classification od economic activities into primary secondary and tertiary sector is useful? Support your answer?
Answers
Answer:
Yes, classification of economic activities into primary, secondary and tertiary sector is useful as it helps in estimating the relative importance in the growth in GDP of the economy. Classifying in such a way helps in calculating how much goods and services are produced and how many people work in each sector.
Yes, the classification bod economic activities into primary, secondary and tertiary sector is useful because of the following reasons:-
➡ We came to know how and where the people of a country are employed.
➡ It helps us to know which sector of economic contributes more or less to the country's GDP and per capita income.
➡ Hence, it is necessary to classify economic activities into 3 sectors for smooth economic development and administration.