Do you think the classification of economic activities into primary, secondary and tertiary is useful? Explain how.
Answers
Explanation:
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.
Explanation:
The classification of economic activities into primary, tertiary and secondary is the useful on provides on how and where the people of country are employed also this helps in ascertaining as to which sector two economic activities contributes more lies to the country's GDP and per capita income.
If the tertiary sector is developing much faster than the primary sector, then it implies that agriculture is depleting and government must take measure to rectify this The knowledge how the agriculture professional is becoming on popular and regressive can only come if we know which sector is belong to.Hence it is necessary to classify economic activities into this their sector for smooth economic administration and development.