Monday , May 23 2022
Finance

Sectors of Indian Economy: 10 Economics

Question: What is under employment? Explain with an example.

Answer:

  1. It is situation under which people are apparently working but all of them are made to work less than their potential.
  2. For example to cultivate a field only two workers are required but the whole family of five people is working as they have nowhere else to go for work.
  3. This type of unemployment is also known as disguised unemployment.

Question: What are secondary activities? Explain with examples.

Answer: The occupations which produce finished goods by using the products of primary activities as raw materials are included in secondary activity. Manufacturing of cloth from cotton, sugar from sugarcane and steel from iron ore are important examples of secondary activities.

All these are secondary activities because the final product is to be produced not by nature but has to be made by men and therefore, some process of manufacturing is essential. Let us take an example of cloth. Though the primary product, i.e., cotton is produced by nature, but it cannot be used directly by us in . this form. So to convert it into usable form some process of manufacturing is essential. This can be done in a factory or at home with simple tools.

Question:What are tertiary activities? Explain with examples.

Answer: Tertiary activity consists of all service occupations. Transport, communication, trade, health, education and administration are important examples of tertiary activities. These tertiary activities help in the development of the primary and secondary sectors. These activities, by themselves, do not produce a good, but they are an aid or a support for the production process. So these are also known as support services.

Question: What are primary activities? Explain with examples.

Answer: Primary activity includes those occupations which are closely related to man’s natural environment. Gathering, hunting, fishing, lumbering, animal rearing, farming and mining are some of important examples of primary activities. Let us understand the concept with the help of an example-Animal rearing or dairy is a primary activity. In this activity, farmers are dependent on the biological process of the animals, and the availability of fodder, etc. The product, milk, is also a natural product.

The most important feature of primary sector is that it forms the base for all other activities.

Question: What is GDP? Who is responsible for collecting data for the GDP in India?

Answer: It is the value of goods and services produced within a country during a given time period.

In India, the mammoth task of measuring the GDP is undertaken by a central government ministry. This ministry, with the help of various government departments of all the Indian States and Union Territories, collects information relating to the total volume of goods and services and their prices, and then estimates the GDP.

Question: What is disguised unemployment? Explain.
Or
How far is it correct to say that disguised unemployment can also be called underemployment? Explain.

Answer:

  1. It is a situation in which more workers are working in an activity than required. The people who are actually engaged in such an activity appear to be employed, but are not fully employed.
  2. For example, if for the cultivation of one hectare land, 10 workers are required, but instead of 10 workers, 15 workers are working. In this case, 5 workers are disguised unemployed. In such cases, even if the surplus workers are removed, the production will not suffer.
  3. This type of unemployment is basically found in agriculture.
  4. This type of unemployment can also be called underemployment because workers perform below their productivity level.

Question: What is an organised sector? Explain

Answer:

  1. An organised sector covers those enterprises or places of work where the terms of employment are regular and therefore, people have assured work.
  2. They are registered by the government and have to follow its rules and regulations which are given in various laws such as the Factories Act, Minimum Wages Act, Payment of Gratuity Act, Shops Act, etc.
  3. They are called organised because they have some processes and procedures.

Question:What is an unorganized sector? Explain.

Answer:

  1. An Unorganized Sector is a sector which is not registered by the government.
  2. The unorganized sector is characterized by small and scattered units which are largely outside the control of the government.
  3. There are rules and regulations, but these are not followed.

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