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what are the four sectors of economy ?
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what are the four sectors of economy ?
Introduction:
The economy is generally divided into four sectors that represent different types of economic activity. These sectors are primary, secondary, tertiary, and quaternary sectors. Each sector contributes to the overall economy in a unique way.

Primary Sector:
The primary sector is involved in the extraction of natural resources such as agriculture, forestry, fishing, and mining. This sector is the foundation of the economy, providing essential raw materials for the secondary sector. The primary sector is typically labor-intensive and involves physical work.

Secondary Sector:
The secondary sector is involved in the manufacturing and production of goods. This sector takes the raw materials provided by the primary sector and transforms them into finished products that can be sold to consumers. The secondary sector is typically capital-intensive and involves the use of machinery and technology.

Tertiary Sector:
The tertiary sector is involved in the provision of services such as transportation, communication, healthcare, education, and hospitality. This sector is the largest sector of the economy and is driven by consumer demand. The tertiary sector is typically labor-intensive and involves the provision of services to consumers.

Quaternary Sector:
The quaternary sector is involved in the knowledge-based industry such as research and development, information technology, and scientific research. This sector is focused on creating new knowledge and technologies that can be used to improve the economy and society. The quaternary sector is typically knowledge-intensive and involves highly skilled professionals.

Conclusion:
Each sector of the economy plays an important role in contributing to the overall economy. While the primary sector provides essential raw materials, the secondary sector transforms them into finished products, the tertiary sector provides services, and the quaternary sector creates new knowledge and technologies. By understanding the different sectors of the economy, we can better appreciate the complexity of economic activity and the interdependence of different sectors.
Community Answer
what are the four sectors of economy ?
1) Primary 2) secondary 3) Tertiary 4) Quaternary
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A large number of the branches of banks have been set up in the villages. The main purpose of setting up these banks is to develop the habit of saving among the villagers and also gives loans to the farmers for boosting the production in one or the other way. So far the banks had been concentrated in the big cities and Indian villagers had no faith in them. The new banks also intend re-channelling bank credit from the big industries to small sectors. With the intention to promote rural banking, Regional Rural Banks were established. These combined the local field with the rural problems. These banks are not to replace the other credit giving bodies but to supplement them.The Steering Committee of the Regional Rural Banks considered some structural changes. First of all they gave thought to the staffing spectrum then to effective coordination among banks- rural cooperatives and commercial-and the possibility of bringing credit within the access of weaker sections. They wanted to recruit the staff for the rural banks at lower salaries. But this type of discrimination would have been dangerous. So it was given up.Another problem with regard to the rural banks is the creditworthiness of the poor. Indian farmers are so poor that they cannot pay back their loans. The rural Indian surveys it quite clear that practically they have no credit worthiness. Their socio-economic mobility is almost zero. Long ago in Ranchi the Government experimented with the idea of advancing loan but the experiment failed, that is why the banks used to fear that their credit would never be paid back.Another difficulty for the rural banks is that loans cannot be so easily processed. Processing loans will also entail heavy expenditure. This is also going to affect their financial position. Still the establishment of the rural banks has been decided because the social advantages are more important than the commercial consideration.Rural banks will definitely encourage savings. It is not the proper time to mop up the rural surplus. No doubt villages do not have to pay income tax and they get many other concessions, yet their saving is not significant. Beside all these hurdles rural banking system will boost up the economy of villages, and so the economy of the country.Q. How will the RRBs help in the economy of the country?

A large number of the branches of banks have been set up in the villages. The main purpose of setting up these banks is to develop the habit of saving among the villagers and also gives loans to the farmers for boosting the production in one or the other way. So far the banks had been concentrated in the big cities and Indian villagers had no faith in them. The new banks also intend re-channelling bank credit from the big industries to small sectors. With the intention to promote rural banking, Regional Rural Banks were established. These combined the local field with the rural problems. These banks are not to replace the other credit giving bodies but to supplement them.The Steering Committee of the Regional Rural Banks considered some structural changes. First of all they gave thought to the staffing spectrum then to effective coordination among banks- rural cooperatives and commercial-and the possibility of bringing credit within the access of weaker sections. They wanted to recruit the staff for the rural banks at lower salaries. But this type of discrimination would have been dangerous. So it was given up.Another problem with regard to the rural banks is the creditworthiness of the poor. Indian farmers are so poor that they cannot pay back their loans. The rural Indian surveys it quite clear that practically they have no credit worthiness. Their socio-economic mobility is almost zero. Long ago in Ranchi the Government experimented with the idea of advancing loan but the experiment failed, that is why the banks used to fear that their credit would never be paid back.Another difficulty for the rural banks is that loans cannot be so easily processed. Processing loans will also entail heavy expenditure. This is also going to affect their financial position. Still the establishment of the rural banks has been decided because the social advantages are more important than the commercial consideration.Rural banks will definitely encourage savings. It is not the proper time to mop up the rural surplus. No doubt villages do not have to pay income tax and they get many other concessions, yet their saving is not significant. Beside all these hurdles rural banking system will boost up the economy of villages, and so the economy of the country.Q. "This type of discrim i nation would have been dangerous". What is referred to as being dangerous?

what are the four sectors of economy ?
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