Do you think the classification of economic activities into primary, secondary and tertiary is useful? Explain how
Do you think the classification of economic activities into primary, secondary and tertiary is useful? Explain how
a.Yes, in fact such a classification is useful and gives you a very broad and comprehensive analysis and understanding about our economy.
b. The classification of our economic sectors into primary, secondary and tertiary covers whole range of economic activities
c .It also gives you an understanding about how these sectors are inter linked with each other and also about their share in the national income which contributes to the overall growth and development of the country.
d. Accordingly, if any sector is lagging behind, government can focus on its growth and can invest more for its development.
e. If you consider primary sectors it includes agriculture, dairy farming, forestry which uses natural resources and produces goods that serve as the base for secondary sector that covers manufacturing industries in which natural products are processed. Like wise, tertiary sector includes services like banking, transportation, storage that supports both primary and secondary sectors.
a.Yes, in fact such a classification is useful and gives you a very broad and comprehensive analysis and understanding about our economy.
b. The classification of our economic sectors into primary, secondary and tertiary covers whole range of economic activities
c .It also gives you an understanding about how these sectors are inter linked with each other and also about their share in the national income which contributes to the overall growth and development of the country.
d. Accordingly, if any sector is lagging behind, government can focus on its growth and can invest more for its development.
e. If you consider primary sectors it includes agriculture, dairy farming, forestry which uses natural resources and produces goods that serve as the base for secondary sector that covers manufacturing industries in which natural products are processed. Like wise, tertiary sector includes services like banking, transportation, storage that supports both primary and secondary sectors.
