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Who carries economic activities ?
Economic activities are those activities which are undertaken by a man to earn income, money and wealth for his life.
These activities include investment, production, distribution and consumption of goods and services at all levels within the society.
The country where these economic activities are undertaken is called an economy. g. Worker works in the factory and get wages.
Which sector has the lowest share in the employment in 2000 ?
The economy is classified into public and private sectors on the basis of :
The public sector includes all the public services and enterprises. Public services include public goods and services like roads, water supply, transport, health, military etc. Public enterprises are state-owned that are under public ownership. Private sector includes enterprises that are owned by private people with the aim to gain profit. These are not owned and run by state or government.
India according to the World Bank classification falls in the category of
As of 1 July 2019, low-income economies are defined as those with a GNI per capita, calculated using the World Bank Atlas method, of $1,025 or less in 2018; lower middle-income economies are those with a GNI per capita between $1,026 and $3,995; upper middle-income economies are those between $3,996 and $12,375; high-income economies are those with a GNI per capita of $12,376 or more.
India continues to be a lower-middle-income country.
Which sector converts goods into goods ?
The secondary sector includes secondary processing of raw materials, foodmanufacturing, textile manufacturing and industry. Manufacturing and Industry sector known as the secondary sector, sometimes as the production sector, includes all branches of human activities that transform raw materials into productsor goods.
Percentage share of employment is highest in
Primary sector is the largest employer in India.
It employes about 64% of the Indian population.
This sector produces only a quarter of GDP because in it, the first step of goods production takes place. It is the supplier of raw material to the secondary sector. And the value of the good increases on each subsequent step and primary sector provides the first step. So, it's share is quite less in GDP.
Primary sector is related to
The primary sector includes the production of raw material and basic foods. Activities associated with the primary sector include agriculture (both subsistence and commercial), mining, forestry, farming, grazing, hunting and gathering, fishing, and quarrying.
In which sector activities are not guided by profit motive ?
Public Sector :
(i) The government owns assets and takes responsibility to deliver services.
(ii) This sector is not guided by profit motive.
(iii) It invests funds to construct structures and infrastructure of public utility e.g. construction of roads, bridges, railways, harbours, generation of electricity, construction of dams, school and college buildings etc.
(iv) All citizens of a country use and obtain services produced by this sector unconditionally.
(v) It collects funds for investment indirectly through taxes on people having certain income and capable to pay them.
Example : Post and telegraph, Railways, C.P.W.D.
In which type of unemployment more people are employed than required ?
Disguised unemployment is a kind of unemployment in which some people look like being employed but are actually not employed fully. This situation is also known as Hidden Unemployment. In such a situation more people are engaged in a work than required.
In terms of GDP the share of tertiary sector in 2003 is
The tertiary sector of the economy is the service sector and industry.
This sector provides services to the general population and the businesses organization.
The activities allied with this sector include wholesale sales and retail, distribution and transportation, entertainment such as television, movies, music, theatre, radio, etc. and restaurants, media, clerical services, tourism, banking, healthcare, and insurance.
The share of the tertiary sector in terms of GDP in 2003 is was 50-60%.per cent.
Workers in this sector do not produce goods :
Workers in the tertiary sector do not produce goods.
Manufacturing units in unorganised sector are :
Employment Generation: Manufacturing units in the unorganised sector results
in employment to a large section of the people. Intervention og the government in
manufacturing sector through the Make in India policy will help to develop
unorganised sector and increase employment to a very great extent.
Production of a commodity through exploitation of natural resources is an activity in the
Primary sector is the economic sector that produce goods by exploiting the natural resources because it forms the base for all the products that are associated directly with land and water. Production of wheat, vegetables, milk , marble and coal are some examples of this sector. Most of the natural products we get our from agriculture, fisheries, forestry, mining, etc.
Primary sector is important to the Indian economy because it provides employment to largest section of population. It provides raw materials such as sugar, jute, cotton etc to industries. It also forms a significant part of country's GDP. Primary sector is also called agriculture and related sector.
Manufacturing sector is associated with
Manufacturing and Industry sector known as secondary sector, sometimes as production sector, includes all branches of human activities that transform raw materials into products or goods. The secondary sector includes secondary processing of raw materials, food manufacturing, textile manufacturing and industry.
The unorganised sector accounted for the following percentage of workforce in India in the year 1999-2000 :
The unorganized sector workers and unorganized workers in the organized sector accounted for 93 percent of our total workforce. The total employment in the Indian economy increased from 397 million in 1999-2000 to 457 million in 2004-05. Employment in the unorganized sector increased from 54.1 million to 62.6 million, that is, by 8.5 million in these five years.
Underemployment occurs when people
Underemployment is a measure of employment and labor utilization in the economy that looks at how well the labor force is being utilized in terms of skills, experience and availability to work. Labor that falls under the underemployment classification includes those workers who are highly skilled but working in low paying or low skill jobs and part-time workers who would prefer to be full-time. This is different from unemployment in that the individual is working but is not working at his full capability.
Information and communication technology is associated with
The information and communication (ICT) services sector includes information technology activities like software development; telecommunications activities; publishing activities, including software publication; motion picture and sound recording activities; radio and TV broadcasting and programming; and other information service activities.
As per NREGA 2005 (National Rural Employment Guarantee Act 2005) the number of days of employment guaranteed by government is
Notified on September 7, 2005, MGNREGA aims at enhancing livelihood security by providing at least one hundred days of guaranteed wage employment in a financial year to every rural household whose adult members volunteer to do unskilled manual work.
The service sector includes activities such as
Tertiary Sector: The service sector of the economy is called the tertiary sector. Services of various kinds like education, health, banking, insurance, trade, and transport are included in this sector. In advanced countries, the contribution of the tertiary sector to national income is the highest.
Choose the correct meaning of organised sector.
Organized Sector is a sector where the employment terms are fixed and regular, and the employees get assured work. Unorganized sector is one where the employment terms are not fixed and regular, as well as the enterprises, are not registered with the government.