Give your opinion about the classification
of economic activities into primary, secondary,
& tertianty sectors is beneficial for the
Indian economy.
Answers
Explanation:
The classification of economic activities into primary, tertiary and secondary 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.