Question

explain the classification of economic activities on the basis of employment​

Answer 1

Answer:

On the basis of employment economic activities is divided into two types, organized and unorganized activities.

Explanation:

The economic activities can be classified into two categories on the basis of employment.

1. Organized or formal- The organized sector of the economy lies under the control of the government. It follows the rules set by the government. Wages and salaries are comparatively higher and jobs are secure.
2. Unorganized or informal- This sector of the economy lies out of government control. The jobs are not regulated and rules are not followed. Jobs are not secure and wages are low as well. Other employment benefits are also not provided.