Question

which of the following are the type of economic activities mcq​

Answer 1

ANSWER

Four Types of Economic Activities:

1. Primary activities
2. Secondary Activities
3. Tertiary activities
4. Quaternary services

Primary activities

Primary activities pertain to obtaining of natural resources from nature directly. Hunting, gathering, farming, animal husbandry, fishing, forestry, obtaining minerals from earth crust etc. are primary activities. Since these activities are outdoor in nature, the people engaged in them are called red-collar workers.

Secondary Activities

Secondary activities pertain to adding value to already existing products by changing their form via processing etc. Manufacturing industries are included in the secondary activities. We note here that sometimes, commercial farming is also included in secondary activities because of use of hybrid seeds and modern technology in cultivation. The workers engaged in secondary activities are called blue-collar workers.

Tertiary activities

Tertiary activities are concerned with providing service. The personal and business services such as clerks, barbers etc. are tertiary services. People engaged in these activities are called pink-collar workers.

Quaternary services

The services which are provided in special environments are called quaternary services. For example, health services are provided into hospitals, hospitality services are provided in hotels, teaching service is provided into school and institutors, entertainment services are provided into theatres, software services are provided over internet or computers. The workers engaged in such services are called white-collar workers. Researchers, legal consultants, financial advisors, professional consultants, software personnel etc. are white-collar workers. In summary, Quaternary activities are developed from of services, with specific knowledge, technical skills, and competence of communication or administration.

Answer 2

the following are the type of economic activities

• Resource management, production of goods and services, distribution of goods and services, and consumption of goods and services are the four fundamental economic activities.
• Any activity where commodities and services are exchanged for money is described as an economic activity. Producing goods and services with the intention of reselling them for a fair price on the market is referred to as the economic activity of production.
• Cricket is not an economic activity when played by students. The process of creating, delivering, acquiring, or selling products or services is referred to as economic activity. An economic activity is any action that involves the creation, supply, or consumption of goods or services.
• When resources like labor, capital goods, manufacturing processes, or intermediary items are combined to create particular goods or services, that is considered an economic activity. As a result, a production process, resource input, and product output define an economic activity (goods or services).

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