Question

In what waysisthe classification of economic activitiesinto primary sector, secondary

sector and tertiary sector useful? Explain.​

Answer 1

Answer:

Classification of economic activities into 3 different sectors is useful because:-

◾This classification clearly shows the economic condition of the economy.

◾Our country is basically relying upon agriculture and hence many are indulging in the primary sector of the economy and reap profits.

◾Secondary and tertiary industries are factors for the growth of developed countries.

◾This classification aids the government to identify the economic issue and address it in a swift manner.

◾Government policies and schemes and programs are based on the economic concerns faced by the people in the society.

◾This classification also helps us to know which sector is mostly relied upon by the people and thus GDP of the country is determined.

Answer 2

Answer:

Yes, classification of economic activities into primary, secondary and tertiary sector is useful as it helps in estimating the relative importance in the growth in GDP of the economy. Classifying in such a way helps in calculating how much goods and services are produced and how many people work in each sector