Sectors of Indian Economy Video Lecture - Economics CUET Preparation -

today's topic is sectors of the Indian
economy +10 economics chapter 2 when we
talk about the word economy the first
thought that comes to our mind is money
economy or economics is generally the
study of management of money in Hindi we
call it our cash Osten earth Camilla
both ahead PESA or Shastras to study how
to manage that money so when we talk
about the economy of a country we talk
about how the money is coming into the
country and how the country is managing
that money inside and also working
outside of that country so economy or
economics is basically the study of
management of the money here we are
talking about the economy of India that
is our country and the basic activities
that are happening in the country which
are governing the processor's in coming
of the money into the economy of our
country so the economic basically runs
with the economic activity the first
term that arises here is the economic
activity an economic activity is nothing
but an activity which provides us income
in return whatever we have done work and
we have gained money in return of that
work then that activity or that work
will be termed as an economic activity
so if we define it activities which
provide income in return are known as
economic activities now economic
activities can broadly be divided into
three parts the first is the primary
sector then the secondary sector and the
final tertiary sector so when we study
about the division of these economic
activities we are basically
concentrating about the source of their
production and how they are working so
let us begin with the division of the
economic activities the first division
here is the
very sector as the word itself says
primary primary means which is the first
stage now primary sector is basically
the sector which engages the products of
natural nature natural resources are
used in the family sector and they are
transformed into a product or basically
the use of natural products or natural
resources like agriculture fishing
mining dairy forestry these are the
activities where the natural resources
are tagged and they are used so all
these activities where nature is used as
a resource directly these activities are
termed or included in the primary sector
as an example like I've said we can take
agriculture where we are using the land
we are irrigating it with water and
finally we are growing crops which are
again a product of the nature fishing
mining forestry all these activities are
directly related to nature and we are
using the natural products for I use or
a vector the second sector or the second
division here is the secondary sector
the secondary sector usually covers the
activities where the natural product is
changed into other forms through ways of
manufacturing and other activities and
then it is transformed into a finished
good or a finished product so when we
are using the raw material from the
primary sector and then transforming it
into a final product or something
different then this transformation or
this change or this manufacturing is
done in the secondary sector that is why
the secondary sector is also known as a
manufacturing sector so definition of
the second d sector we can say where
natural products or natural resources I
transformed into finished goods
as an example we can take factories
which use the products of the primary
sector like if we talk about agriculture
agriculture gives us grains for example
we can use that no babies coming from
the primary sector that is agriculture
for making it into floor we have to use
the machinery and the machineries our
use and the form of the product or the
raw material which was provided by the
primary sector is transformed here again
we are using the Machine and the form of
the primary product is change that is
why the secondary sector is known as the
manufacturing sector here we have
changed the form of wheat into flow then
again we can remove the change into
further activities we can use a floor in
the making of bread then selling the
bread into the market so this formation
of primary product or raw material which
was given by the primary sector to a
secondary sector where it is transformed
into a final product for example like we
have taken that we use here transformed
into bread so this transformation is
known as or is done in the secondary
sector moving on to the third sector it
is tertiary sector tertiary sector
basically deals with these services it
does not provide a final product or a
disc it does not produce anything
directly but it provides services into
the formation or into the help of the
prime help of the primary and the
secondary
so these services can be advertising
transport or banking services loan
services shops where the shopkeepers are
working or they're selling the products
of the secondary sector or the primary
sector so all these are services which
are provided in the tertiary sector and
this tertiary sector has become a very
important part of the economy after the
1970s and it has risen into a very
important section of the economy of a
country now this tertiary sector can
also be divided into two parts first is
commercial services the commercial
services can include transport
banking insurance advertising packing
acceptor kind of activities here we can
see that all these activities are
helping into the supply or the selling
of the product into the market so if the
product is made in the secondary sector
suppose the example like we talked of
bed if bread is made in the security
sector then it requires transport from
the factories to the market
it requires loans or financial services
to basically start the industry or any
production services then it requires
also advertising in the present world we
can see that advertising has become a
very important source of the economy and
popularizing your product packing of
course packet without packing you cannot
sell your product in the market so all
these are services which are provided by
the tertiary sector and it is given
helps in the promotion of the primary
products of the primary and secondary
sector the second division of the
tertiary sector is personal services
personal services include activities
like teaching doctors Pulis services
entertainment lawyers etcetera all these
services is provided to us by the people
like I am teaching to you so I am giving
you the knowledge that I have so I am
providing my services to you if you have
gone to a doctor to if URL then the
doctor is giving his services is part of
knowledge to you as a part of service
the police provides us protection so
this is again a part of the services
entertainment entertainment has recently
become a very important part of our life
and in the entertainment part we can
take television shows we can take movies
and in these movies and television shows
we see that these actors which are
acting and the whole production and the
whole
the work that the team is working to
entertain us they are basically giving
us their services for which we are
paying to them lawyer is then again
another example of the services which
the tertiary sector provides us now the
division here is done
primary secondary and toshi how do we
use the products or the income that
these three sectors are generating we
have to count on the income or the
resources these services are providing
to us and then the product of these
three sectors are added on in the
national income so how do we count the
total production of each sector the
problem here arises is the counting of
the total production in counting the
total production of each sector we are
basically here talking about the values
of goods and services which are used
rather than the adding up of the actual
numbers now here again we face a lot of
difficulties in counting the total or
the final value of the product like the
example I gave of V turning into bread
if we talk about the final product of
each sector then first we take the
example of we turning into bread so
first we have the product of final
product of primary sector in the form of
wheat which is suppose for example is
worth fire piece then of the secondary
sector which is turning into flood then
to bread which is again worth rupees 10
and the final product or the tertiary
sector which is selling the bread into
the market is selling it at the price of
rupees 15 so if here we count the value
of the final product of each sector it
will create a problem how the problem
here is that if we are counting fire
rupees of the primary sector 10 rupees
of the semi sector and then final 15
rupees of the tertiary sector it will
give us the problem
double-counting because in the value of
the brain which is rupees 15 we have
already counted the value of week and
the flower and all the other products
and services which ever included in the
formation of bread so if we are going to
add the value of wheat separately and
then flour and bread and the other
services separately and then the final
product bread separately it will give us
the problem of double counting so here
to avoid this we finally use the fine
and the value of the final product here
the final product for us is the bread
which is rupees 15 so to avoid the
problem of double counting
we finally use the value of the final
product which is here is spread which is
worth rupees 15 so the value of goods
and services here are calculated and
then added up here we can write if we
totally add we three all the three
values it will turn the peas 30 which is
the problem of double counting and to
avoid this the value of goods and
services are calculated the final goods
and services are calculated and then add
it up now it is not required to add
every good that is produced like we have
seen in this example also it is not
required to include every good that is
produced our intermediate goods are not
required to be included in this final
product and only the sum of final
production on the three sector in a
particular year gives the Bross domestic
product which is also known as GDP of
our country and the responsibility of
calculating the GDP of any country is on
the central government or the central
government ministry now here we have
seen that the economy is divided into
three sectors but was the division the
same if we talk about now the hundred
years back 200
that or we can say when the human
started the economy no I guess the
answer will be no because initially when
humans started economy or we can say
they started having a settled life and
leading to production of any
agricultural products or animal rearing
or anything so the initial part that the
human started with was agriculture so
from the history we have seen that the
sectors of the economy have gone through
a lot of changes so here we can also
study about the changes that the economy
has faced it through the history as we
all know that initially humans were
nomads then later on they started having
a settled life and started doing
agriculture and when they started doing
agriculture they started producing
products and with the increase in the
production also with the increase in the
population when the production rose they
found that the production was not
sufficient to fulfill their requirements
and when the requirements were filled by
the agriculture they started looking out
for a different jobs and doing other
activities also so they turned into
manufacturers they started transforming
the natural product solar resources
provided by the nature into different
forms so the second stage that we see
now in before route of the change in
these sectors of the economy is from the
cultural activities they started seeking
out different jobs and turn into
manufacturers when they started
manufacturing products and then later on
machinery was introduced in the
manufacturing sector and when machinery
was introduced a lot of product started
being manufactured started getting
with a very less cost so the product
which was produced was very cheap in
comparison to the products which was
country which was handmade a which was
made by human efforts so later on when
the products started coming on our
flooding in the market with a lot of
amount or with a lot of quantity what
important the activity that occurred
here is now it became very important how
to improve or how to advertise your
product or how to advertise your product
because competition rose in the market
and different products started emerging
in the market so far with the increase
in the competition people started
realizing that with if they are not able
to advertise their product properly and
they are not able to present their
product in front of the market properly
the product will not get sales so later
on with the change from the agriculture
to the manufacturing then the services
started appearing services in the sense
the shop started coming up in the form
that they were ready to sell out the
products of the market and the
manufacture from the manufacturers the
products was taken from the factories
and it was brought to the marketplaces
by the shopkeepers or by the merchants
and they started selling their products
in the market and when market started
appearing advertising and services
different kind of money generating
activities target happen so with the
advent of the service sector also after
the after on 100 or 150 years of these
changes the service sector also started
emerging and the service sector
gradually became a very important part
of the economy