what are the different sectors of the ecomomy and which activities do they represent ?
Answers
Answer:
Primary Sector
In Primary sector of economy, activities are undertaken by directly using natural resources. Agriculture, Mining, Fishing, Forestry, Dairy etc. are some examples of this sector.
It is called so because it forms the base for all other products. Since most of the natural products we get are from agriculture, dairy, forestry, fishing, it is also called Agriculture and allied sector.
People engaged in primary activities are called red-collar workers due to the outdoor nature of their work.
Secondary Sector
It includes the industries where finished products are made from natural materials produced in the primary sector. Industrial production, cotton fabric, sugar cane production etc. activities comes under this sector.
Hence its the part of a country's economy that manufactures goods, rather than producing raw materials
Since this sector is associated with different kinds of industries, it is also called industrial sector.
People engaged in secondary activities are called blue collar workers.
Examples of manufacturing sector:
Small workshops producing pots, artisan production.
Mills producing textiles,
Factories producing steel, chemicals, plastic, car.
Food production such as brewing plants, and food processing.
Oil refinery.
Core Industries
Eight Core Industries are Electricity, steel, refinery products, crude oil, coal, cement, natural gas and fertilizers. The Index of Eight Core Industries is a monthly production index, which is also considered as a lead indicator of the monthly industrial performance. The Index of Eight Core Industries is compiled based on the monthly production information received from the Source Agencies.
Tertiary Sector/Service Sector
This sector’s activities help in the development of the primary and secondary sectors. By itself, economic activities in tertiary sector do not produce a goods but they are an aid or a support for the production.
Goods transported by trucks or trains, banking, insurance, finance etc. come under the sector. It provides the value addition to a product same as secondary sector.
This sector jobs are called white collar jobs
Explanation:
hope it helps you
Explanation:
The three-sector model in economics divides economies into three sectors of activity: extraction of raw materials (primary), manufacturing (secondary), and services (tertiary).