Economics class 10 chapter 2 page no. 27 question 1
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Answer:
ATTACHMENT
HERE ARE SOME IMPORTANT POINTS TO LEARN
SECTORS OF INDIAN ECONOMY
Sector defines a large segment of the economy in which businesses share the same or a related product or service.
Secondary sector:
Covers activities in which natural products are changed into other forms through ways of manufacturing, it is also called as industrial sector.
Primary sector:
When we produce goods by exploiting natural resources, it is an activity of the primary sector.
Tertiary sector:
These are the activities that help in the development of the primary & secondary sector. These activities by themselves do not produce good but they are an aid and support to the production process. Example: Transportation-Goods that are produced in the primary sector need to be transported by trucks or trains and than sold in the wholesale and retail shops; Storage—at times it is necessary to store these products in godowns, which is also a service made available. Communication -talking to others on telephone); Banking-borrowing money from the banks. Since these activities are generate services rather than goods it is also called Service sector.
Gross Domestic Product (GDP):
The value of final goods and services produced in each sector during a particular year provides the total production of the sector for that year. And sum of production in three sectors give Gross Domestic Product—GDP of the country. It is the value of all final goods and services produced within the country during a particular year.
Growing importance of Tertiary sector:
In any country several services such as hospitals , educational institutions, post and telegraph services, police stations, courts, village administrative offices, municipal corporations, defense, transport, banks, insurance companies etc. are required.
Unorganized sector:
It is characterized by small and scattered units which are largely outside the control of the government. There are rules and regulations but these are not followed.
