Sectors of Indian Economy: 10 Economics

Question: What are economic activities?

Answer: The activities which contribute to the flow of goods and services in an economy.

Question: There are many activities that are undertaken by directly using natural resources. What are these activities known as?

Answer: Primary activities

Question: Give any two examples of primary activities.

Answer:

1. Animal rearing
2. Lumbering

Question: ‘Dairy is a primary activity’. Give reason.

Answer: In case of dairy we are dependent on the biological process of the animals and availability of fodder. The product i.e. milk is also a natural product.

Question: By what other name the primary sector is known as?

Answer: Agriculture and related sector.

Question: What is secondary sector?

Answer: The secondary sector includes activities in which natural products are changed into other forms manually or through machines.

Question: Give two examples of secondary activities.

Answer:

1. Manufacturing of car
2. Manufacturing of chair

Question: What is tertiary sector?

Answer: The sector which provide support service to both primary and secondary sectors. For example: banking, trade communication etc.

Question: Why tertiary sector is also termed as service sector?

Answer: Tertiary sector is termed as service sector because tertiary sector provide support service to primary and secondary sectors.

Question: What is GDP?

Answer: It is the value of all final goods and services produced within a country during a particular year.

Question: Which organisation in India undertakes the task of measuring GDP?

Answer: Central Government Ministry.

Question: What are final goods?

Answer: Final goods are the goods which are ready for use. For example a pen.

Question: What are intermediate goods?

Answer: These are the goods which are used up during the production process.

Question: ‘While calculated Gross Domestic product the value of only final goods should be included’. Give reason.

Answer: Because the final goods already includes the value of all intermediate goods.

Question: Which sector has shown the highest growth rate?

Answer: Tertiary sector

Question: Which sector is the largest employer?

Answer: Primary Sector

Question: What is Right to Work?

Answer: Under this Right all those who are ready to work at prevailing wages are given work by the government.

Question: What is organised sector?

Answer: It is a sector which covers those enterprises or place of work where the terms of employment are regular and therefore people have regular work.

Question: What is unorganized sector?

Answer: Any sector or industrial unit which is largely outside the control of the government.

Question: There is a need for protection and support of the workers in the unorganized sector. Given two seasons.

Answer:

1. Workers of unorganized sector are not paid fair wages.
2. The working conditions are very poor.

Question: What is a public sector?

Answer: Any sector which is controlled and managed by the government is known as public sector for e.g. Indian Railway.

Question: On what basis, the sectors are classified into public and private sector ?

Answer: Ownership of enterprises

Question: In which year the National Rural Employment Guarantee Act was implemented ?

Answer: 2005

Question: Sahara Airlines and BSES are examples of:

Answer: Private Sector

Question: What is the main motive of Private sector enterprises ?

Answer: Profit making

Question:What will happen if the government fails to provide 100 days employment under NREGA  (National Rural Employment Guarantee Act)?

Answer: Unemployment allowance will be given.