Question

Explain the three types of economic activities?

Answer 1

There are three types of economic activities which are as follows:

1. Primary activities - These include all those connected with the extraction and production of natural resources. E.g. - agriculture, fishing and gathering.

2. Secondary activities - They include all those concerned with the processing of natural resources. E.g. - Baking of bread , weaving of cloth, iron and steel industry.

3. Tertiary activities - They provide support to the primary and secondary sectors through services. E.g. - Transport. trade, banking, insurance.