How are activities of economy classified on the basis of employment
Answers
On the basis of employment conditions, activities in the economy are classified as organised and unorganised. The organised sector offers job security and employment benefits, while the unorganised sector is marked by low wages and lack of job security.
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Explanation:
On the basis of employment conditions, the activities in the economy are classified into organized and unorganized sectors.
→ Organized Sector :This sector covers those enterprises which are registered by the government and have to follow its rules and regulations. For example, Reliance Industries Ltd., GAIL etc.
→ Unorganized Sector : It includes those small and scattered units which are largely outside the control of the government. Though there are rules and regulations but these are never followed here. For example, casual workers in construction, shops etc. In this sector there is no job security and the conditions of employment are also very tough.