Yes, it is useful to classify economic activities into primary, secondary and tertiary sectors.
- People in the country are involved in various economic activities.
- Some people are involved in generating services, some people are into producing goods, some people are into agricultural production, some types of economic activities require highly educated and highly skilled workers, some types of economic activities do not require highly skilled workers.
- Hence it is important to classify the economic activities into 3 different types.
- We classify economic activities into 3 different groups based on different criterias and these groups are also known as sectors.
- Primary sector is the group of economic activities that involves producing goods using natural resources.
- The goods produced from the primary sector becomes the base for all other activities.
- Forestry, fishing, agriculture, dairy comes under the primary sector of the economy.
- The Secondary sector involves industrial activities in which goods are produced using different manufacturing processes, in which natural products are converted into other forms.
- The third sector is known as the tertiary sector.