Monday , May 23 2022
Finance

Sectors of Indian Economy: 10 Economics

Question: Compare the different sectors.
Or
Distinguish between primary, secondary and tertiary sector.

Answer: Primary Sector:

  1. It is known as agriculture and allied services sector.
  2. This sector produces goods and service by exploiting natural resources.
  3. This sector is unorganized and use traditional techniques.
  4. Activities related to agriculture, forestry fishing, mining and animal husbandry are included in this sector.
  5. This sector continue to be the largest employer in most of the developing nations like that of India.

Secondary Sector:

  1. It is known as manufacturing sector.
  2. This sector transforms one good into another by creating more utility from it.
  3. It is organised sector and use better techniques.
  4. It includes manufacturing units, small-scale units, large firms, big corp-orates and multi-nations.
  5. This sector has failed to provide employment to the surplus workers of primary sector.

Tertiary Sector:

  1. It is known as service sector.
  2. This sector provides useful services to primary and secondary sectors for the smooth functioning of their working.
  3. It is organised sector and use better techniques.
  4. Service related to banking, insurance, trade and communication come in this sector.
  5. This sector’s sharing in the employment is increasing.

Question: Fill in the blanks using the correct option given in the bracket:
(1) Employment in the service sector _________ increased to the same extent as production. (has / has not)
(2) Workers in the _________ sector do not produce goods. (tertiary / agricultural)
(3) Most of the workers in the _________ sector enjoy job security. (organised / unorganized)
(4) A _________ proportion of laborers in India are working in the unorganized sector. (large / small)
(5) Cotton is a _________ product and cloth is a _________ product. (natural / manufactured)
(6) The activities in primary, secondary and tertiary sectors are _________. (independent / interdependent)

Answer:

Employment in the service sector has not increased to the same extent as production.

  1. Workers in the tertiary sector do not produce goods.
  2. Most of the workers in the organised sector enjoy job security.
  3. A large proportion of labourers in India are working in the unorganized sector.
  4. Cotton is a natural product and cloth is a manufactured product.
  5. The activities in primary, secondary and tertiary sectors are interdependent.

Question: Choose the most appropriate answer.
(a) The sectors are classified into public and private sector on the basis of:
(1) employment conditions
(2) the nature of economic activity
(3) ownership of enterprises
(4) number of workers employed in the enterprise

(b) Production of a commodity, mostly through the natural process, is an activity in ______________ sector.
(1) primary
(2) secondary
(3) tertiary
(4) information technology

(c) GDP is the total value of _____________ produced during a particular year.
(1) all goods and services
(2) all final goods and services
(3) all intermediate goods and services
(4) all intermediate and final goods and services

(d) In terms of GDP the share of tertiary sector in 2003 is _________
(1) between 20 per cent to 30 per cent
(2) between 30 per cent to 40 per cent
(3) between 50 per cent to 60 per cent
(4) 70 per cent

Answer:

(a) (3)
(b) (1)
(c) (2)
(d) (3)

Question:Find the odd one out and say why.
(1) Railway Guide, washer-man, tailor potter.
(2) Teacher, doctor, vegetable vendor.
(3) Postman, cobbler, soldier, police constable.
(4) MTNL, Indian Railways, Air India, Sahara Airlines, All India Radio.

Answer:

  1. Potter, because only the potter relates to secondary sector.
  2. Vegetable vendor, since only this directly help in the production of goods.
  3. Cobbler because, only cobbler falls in private sector.
  4. Sahara Airlines, as this is only a private sector company in the group.

Question: Do you think the classification of economic activities into primary, tertiary and secondary is useful? Explain how.

Answer: The classification of economic activities into primary, tertiary and secondary is useful on account of the information it provides on how and where the people of a country are employed. also this helps in ascertaining as to which sector of economic activity contributes more or less to the country’s GDP and per capita income.

If the tertiary sector is developing much faster than the primary sector, then it implies that agriculture is depleting, and the government must take measures to rectify this. The knowledge that the agricultural profession is becoming unpopular or regressive can only come if we know which sector it belongs to. Hence it is necessary to classify economic activities into these there sectors for smooth economic administration and development.

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