Question

Do you think the classification of economic activities into Primary, secondary, and territory is useful? explain how.

Answer 1

Yes it is useful as it is used to calculate the GDP of the country which is a barometer for the country's economical growth.

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Answer 2

The classification of economic activities into primary, secondary and tertiary is useful on account of the information, it provides on how and where the people of a country are employed. Also, this helps in ascertaining as to which sector of economic activity contributes more or less 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 the government must take measures to rectify this. The knowledge that the agricultural profession is becoming unpopular or regressive can only come if we know which sector it belongs to. Hence, it is necessary to classify economic activities into these three sectors for smooth economic administration and development.