Question

What r the different types of ecinomic activities explain with examples

Answer 1

In terms of the national economy, a basic classification of economic sectors, broken into four basic sectors is used: Raw Materials (Primary Sector) Manufacturing and Industry (Secondary Sector) Service Sector (Tertiary Sector)
raw material manufacturing-Raw materials are the resources used by a company to produce its finished goods and products.
Raw materials can be divided into two groups: direct and indirect.

Direct materials are used within the final product. Examples include the wood used to make furniture or the fabric used to make clothing.

Indirect materials are used throughout the production process, but are not directly included in the final product. Examples include the oils used to maintain machinery or the lightbulbs in a factory.

industry service sector--An industry made up of companies that primarily earn revenue through providing intangible products andservices. Service industry companies are involved in retail, transport, distribution, food services, as well as other service-dominated businesses. Also called service sector, tertiary sector of industry.
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