How are the three sectors of the economy different from each other? Explain.
Answer:
Answer to be written in exam
|
BASIS |
PRIMARY SECTOR |
SECONDARY SECTOR |
TERTIARY SECTOR |
|
Meaning |
Primary sector involves the first exploitation of natural resources to create a good. |
Secondary sector involves the procedure in which natural resources or raw materials are converted into a finished product. |
Tertiary sector involves all the services which are done to facilitate the transportation or storage of these raw materials and goods from one place to another. |
|
Employment rate |
Employs more than 50% of the working population. |
Least number of workers are employed in this sector. |
Employs the second highest number of employees. |
|
Contribution to GDP |
This sector is the 2nd major contributor to the GDP. |
This sector contributes the least to the GDP. |
This sector contributes maximum to the GDP. |
|
Alias |
Known as the agricultural industry. |
Known as the manufacturing industry. |
Known as the trading industry. |
|
Example |
Crops, farming, fishing industries |
Mills, Factories |
Transport, call centres, customer care centres |
