Question

Explain the relative importance of primary sector,secondary sector,and tertiary sector in agdp and emploiment

Answer 1

An economy of a nation can be dividedinto various sectors to define the proportion of the population engaged in the activity sector.

•Primary: Primary sector is that sector of the economy which extracts or harvests products from the earth. The primary sector includes the productionof raw material and basic foods. Activities associated with the primary sector include agriculture (both subsistence and commercial), mining, forestry, farming, grazing, hunting and gathering, fishing, and quarrying

• Secondary : The secondary sector of the economy manufactures finished goods. All of manufacturing, processing, and construction lies within the secondary sector. Activities associated with the secondary sector include metal working and smelting, automobile production, textile production, chemical and engineering industries, aerospace manufacturing, energy utilities, engineering, breweries and bottlers, construction, and shipbuilding.

•Tertiary: The tertiary sector of the economy is the service industry. This sector provides services to the generalpopulation and to businesses. Activities associated with this sector include retail and wholesale sales, transportation and distribution, entertainment (movies, television, radio, music, theater, etc.), restaurants,clerical services, media, tourism, insurance, banking, healthcare, and law.

Answer 2

Primary Sector means agriculture sector. In a country like India the main source of income even today is agriculture. Many of our agricultural products are exported by which foreign currency is flowing. The well-being of other two sectors depends upon Agriculture. If agriculture sector is well with good yields then Secondary Sector which consists of industries run smoothly. Most of the industries are based on agricultural products. Tertiary Sector means service sector. Today the contribution of Service sector is growing very fastly and contributing very high amount in GDP. In a developing country like India all the three sectors are equally important. In a country like USA Tertiary is very important and then Secondary.

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