what is the basic function of the three basic of economic activities R...
Three Types
primary sector : those which involve activities ,extracting raw food from nature.
eg : fishing food gathering
Secondary sector : Those which involve processing or manufacturing of this raw food.
eg : manufacturing of textiles
Tertiary sector: Those activities providing services to people.
eg: banking
This question is part of UPSC exam. View all Class 8 courses
what is the basic function of the three basic of economic activities R...
The three basic economic activities are:
1. Primary Activities:
Primary activities involve the extraction and production of natural resources. These activities are directly dependent on the environment and include:
a. Agriculture: Agriculture is the primary economic activity that involves the cultivation of crops, rearing of livestock, and production of food and raw materials. It is the backbone of many economies, providing food and employment opportunities.
b. Fishing: Fishing is another primary activity that involves the catching of fish and other marine organisms from rivers, lakes, and oceans. It provides food, employment, and raw materials for various industries.
c. Mining: Mining includes the extraction of minerals, metals, and other valuable resources from the earth's crust. It plays a crucial role in the production of metals, construction materials, and energy resources.
2. Secondary Activities:
Secondary activities involve the processing and manufacturing of raw materials into finished goods. These activities add value to the raw materials and include:
a. Manufacturing: Manufacturing involves the transformation of raw materials into finished goods using various techniques and technologies. It includes industries such as textiles, automobiles, electronics, and machinery.
b. Construction: Construction activities involve the building of infrastructure, including residential and commercial buildings, roads, bridges, and dams. It provides employment and contributes to the development of the economy.
3. Tertiary Activities:
Tertiary activities are also known as service activities and involve the provision of services to individuals and businesses. These activities do not produce tangible goods but provide support and assistance. They include:
a. Trade: Trade involves the buying and selling of goods and services. It includes wholesale and retail trade, import and export activities, and plays a significant role in the economy.
b. Transport and Communication: Transport and communication services are essential for the movement of goods, people, and information. It includes various modes of transport like road, rail, air, and waterways, as well as telecommunication services.
c. Banking and Finance: Banking and financial services provide the necessary infrastructure for economic transactions. They include activities such as banking, insurance, investment, and financial planning.
d. Tourism and Hospitality: Tourism and hospitality activities involve the provision of services to tourists, including accommodation, transportation, food, and entertainment. It contributes to the economy by promoting cultural exchange and generating revenue.
These three basic economic activities are interdependent and collectively contribute to the growth and development of an economy. They provide employment opportunities, generate income, and ensure the availability of goods and services for the population.
To make sure you are not studying endlessly, EduRev has designed Class 8 study material, with Structured Courses, Videos, & Test Series. Plus get personalized analysis, doubt solving and improvement plans to achieve a great score in Class 8.