Write Short notes on:
Economic activities of Brazil and India
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ECONOMIC ACTIVITY :
We all have heard the saying “All work and no play makes Jack a dull boy”. But how do we categorize what is work and what is play? In economics, we categorize all human activities into two broad categories – economic activities and non-economic activities. Let us take a look at the meaning and some examples of economic activities.
Economic activity in Brazil:
Brazil is one of the world giants of mining, agriculture, and manufacturing, and it has a strong and rapidly growing service sector. From the 16th to the mid-20th century, the country was heavily dependent on one or two major agricultural products, whose prices fluctuated widely on international markets.
Economic activity in India :
India is mainly an agricultural economy. Agricultural activities contribute about 50% of the economy. Agriculture involves growing and selling of crops, poultry, fishing, cattle rearing, and animal husbandry. People in India earn their livelihood by involving themselves in many of these activities. These activities are vital to our economy. The Indian economy has seen major growth in the last few decades. The credit for this boom largely goes to the service sector. Agriculture and associated activities have also been improvised to match the global standards and the export of various food products has seen an upward trend thereby adding to the economic growth. The industrial sector does not lag behind a bit. A number of new large scale, as well as small scale industries, have been set up in recent times and these have also proved to have a positive impact on the Indian economy.
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