Question: What are economic activities?
Answer: The activities which contribute to the flow of goods and services in an economy.
Question: There are many activities that are undertaken by directly using natural resources. What are these activities known as?
Answer: Primary activities
Question: Give any two examples of primary activities.
- Animal rearing
Question: ‘Dairy is a primary activity’. Give reason.
Answer: In case of dairy we are dependent on the biological process of the animals and availability of fodder. The product i.e. milk is also a natural product.
Question: By what other name the primary sector is known as?
Answer: Agriculture and related sector.
Question: What is secondary sector?
Answer: The secondary sector includes activities in which natural products are changed into other forms manually or through machines.
Question: Give two examples of secondary activities.
- Manufacturing of car
- Manufacturing of chair
Question: What is tertiary sector?
Answer: The sector which provide support service to both primary and secondary sectors. For example: banking, trade communication etc.
Question: Why tertiary sector is also termed as service sector?
Answer: Tertiary sector is termed as service sector because tertiary sector provide support service to primary and secondary sectors.
Question: What is GDP?
Answer: It is the value of all final goods and services produced within a country during a particular year.
Question: Which organisation in India undertakes the task of measuring GDP?
Answer: Central Government Ministry.
Question: What are final goods?
Answer: Final goods are the goods which are ready for use. For example a pen.
Question: What are intermediate goods?
Answer: These are the goods which are used up during the production process.
Question: ‘While calculated Gross Domestic product the value of only final goods should be included’. Give reason.
Answer: Because the final goods already includes the value of all intermediate goods.
Question: Which sector has shown the highest growth rate?
Answer: Tertiary sector
Question: Which sector is the largest employer?
Answer: Primary Sector
Question: What is Right to Work?
Answer: Under this Right all those who are ready to work at prevailing wages are given work by the government.
Question: What is organised sector?
Answer: It is a sector which covers those enterprises or place of work where the terms of employment are regular and therefore people have regular work.
Question: What is unorganized sector?
Answer: Any sector or industrial unit which is largely outside the control of the government.
Question: There is a need for protection and support of the workers in the unorganized sector. Given two seasons.
- Workers of unorganized sector are not paid fair wages.
- The working conditions are very poor.
Question: What is a public sector?
Question: On what basis, the sectors are classified into public and private sector ?
Answer: Ownership of enterprises
Question: In which year the National Rural Employment Guarantee Act was implemented ?
Question: Sahara Airlines and BSES are examples of:
Answer: Private Sector
Question: What is the main motive of Private sector enterprises ?
Answer: Profit making
Question:What will happen if the government fails to provide 100 days employment under NREGA (National Rural Employment Guarantee Act)?
Answer: Unemployment allowance will be given.