Q. 103.7( 6 Votes )

Explain in short

Answer :

Economic activities are related to production, distribution, exchange and consumption of goods and services. The primary aim of the economic activity is the production of goods and services with a view to make them available to consumer. Economic activities can be differentiated into three sectors viz., primary, secondary and tertiary. The primary sector includes all activities that are associated with the use of natural resources like agriculture, fishing, forestry etc. The secondary sector is concerned with the processing of raw materials into products and goods. Examples of this sector include Manufacturing of steel, baking of bread and weaving of cloth etc. The tertiary sector is involved with providing service and supports the primary and secondary sectors. Examples of this sector include transport, trade, banking, insurance and advertising All three sectors are interdependent on one another and cannot exist in isolation.


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