Question

How are economic activities being classified? Explain them?

Answer 1

Answer:

Classification of economic activities: In terms of the national economy, a basic classification of economic sectors, broken into four basic sectors is used: 1. Primary Sector (Raw Materials) 2. ... Agriculture and allied activities like mining, fishery, forestry, dairy and poultry are included in this sector.

Answer 2

Answer -

• Economic activities are classified as Primary, Secondary and Tertiary sector Secondary and Tertiary sector activities on the basis of nature of economic activities.

• On the basis of remuneration received, economic activities are classified as market activities and non-market activities.