Question

What is the criteria to classify an economic activity as secondry sector activity explain 0?

Answer 1

Explanation:

➡️ Primary sector: Simply speaking primary sector refers to that sector of the economy which uses natural resource to produce goods. Natural factors play crucial role in the production process. Agriculture and allied activities like mining, fishery, forestry, diary and poultry are included in this sector

Answer 2

Answer:

The three sector economic theory divides economic activities into primary, secondary and tertiary sectors.

This theory explains that any economic activity moves from the primary, rise in the secondary and as a final point to the tertiary.

This classification helps to study the economy of a country.

It enables the government to make better plans for higher economic growth. This stability in economic growth benefits the people to lead a better way of life.

This helps to generate surpluses which can be used at the time of unfavourable situations like catastrophes, pressures from other countries, etc.