Question

Types of economic activities primary secondary tertiary

Answer 1

The three-sector theory is an economic theory which divides economies intothree sectors of activity: extraction ofraw materials (primary),manufacturing (secondary), and services (tertiary). It was developed by Allan Fisher, Colin Clark and Jean Fourastié.

Answer 2

Primary sector :-

These Sector are directly dependent on environment as these refer to utilisation of earth's resources such as land, water, minerals etc.

Example :- Fishing, forestry, agriculture, mining and quarrying.

Secondary sector (Manufacturing sector ):-

Secondary sector add value to natural resources by transforming raw material into valuable products.

Example :- Industry

Tertiary sector (Service sector) :-

Tertiary sector include both production and exchange.The production involves the provision of services that are consumed.

Example :- Banking,communication transportation, teaching, nursing etc.