what are the three types of economic activities?
give examples
Answers
The three types of economic activities are
i) primary activities: primary activities it include all those connected with extraction and production of natural resources.
example: agriculture, fishing, mining.
ii) Secondary activities: Activities which are concerned with the processing of natural resources are called secondary activities.
example: manufacturing of finished steel and backing of bread.
iii) Tertiary activities: It provide support to primary and secondary sectors through services.
example: advertising and banking.
Primary: involves the retrieval and production of raw materials, such as corn, coal, wood and iron. (A coal miner, farmer or fisherman would be workers in the primary sector.)
Secondary: involves the transformation of raw or intermediate materials into goods e.g. manufacturing steel into cars, or textiles into clothing. (A builder and a dressmaker would be workers in the secondary sector.)
Tertiary: involves the supplying of services to consumers and businesses, such as baby-sitting, cinema and banking. (A shopkeeper and an accountant would be workers in the tertiary sector.)
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