three sectors of economy are highly interdependent explain the statement with suitable examples
Answers
The three sectors of the economy are the primary, secondary and the tertiary sectors.
The primary sector is the one in which resources are extracted, in field work is conducted like mining of coal, fishing and agriculture.
The secondary sector is the one in which manufacturing is done, like making of car parts.
The third and last sector is the tertiary sector, in which services are provided, like banking.
These all sectors depend on each other, for example:
1- In primary, agricultural production, raw materials are extracted, for food industries in the two other sectors, which use this raw material and make it into a product in secondary sector and then sell it as a service, example: Hotel system, service industry in the tertiary sector.
2- The secondary sector, undergoes industrial activities, that manufacture and produce instruments and tools, like tractor, or robotics, which help in increasing output of other two sectors, like tractors reduce human effort in agriculture.
3- Tertiary handles transport service system, which is used in transporting raw material as well as manufactured goods, to their markets.