how are the activities in the economy classified on basis of unemployement condition
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They are classified into two types
(i) Organized
(ii) Unorganized
The organized sector covers those enterprises or places of work where the terms of employment are regular and therefore, people have assured work. They are registered by the government and have to follow its rules and regulations which are given in various laws such as the Factories Act, Minimum Wages Act, Payment of Gratuity Act, Shops Act etc. Examples are reliance Industries Ltd, Tata Motors etc.
The unorganized sector contains enterprises not registered by the government. The unorganized sector is characterized by small and scattered units which do not follow proper rules for employment or give any leaves or other benefits. Examples are casual workers in construction, in shops, garages, etc.
(i) Organized
(ii) Unorganized
The organized sector covers those enterprises or places of work where the terms of employment are regular and therefore, people have assured work. They are registered by the government and have to follow its rules and regulations which are given in various laws such as the Factories Act, Minimum Wages Act, Payment of Gratuity Act, Shops Act etc. Examples are reliance Industries Ltd, Tata Motors etc.
The unorganized sector contains enterprises not registered by the government. The unorganized sector is characterized by small and scattered units which do not follow proper rules for employment or give any leaves or other benefits. Examples are casual workers in construction, in shops, garages, etc.
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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 worker's in construction, shops etc. In this sector there is no job security and the conditions of employment are also very tough.
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