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Economics Assignment

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unnikrishnan velakkapadi
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11 views

Economics Assignment

Uploaded by

unnikrishnan velakkapadi
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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ECONOMICS ASSIGNMEN

- Devika Unnikrishnan
9E
SECTORS OF ECONOMY

People work to generate income to be


able to provide for themselves and
their families. The national income of a
country is measured by its gross
domestic product, or GDP, which is the
total value of all the goods and services
produced in the country in a year. The
different activities that people carry
out to create goods and services, which
contribute towards the national
income, are called economic activities.
Based on their nature the economic
activities can be classified into three
sectors: primary sector, secondary
sector and tertiary sector. Based on
their purpose, economic activities can
be classified as market activities and
non-market activities.

Economic Activities

-Purpose

Non Market
Market Activities
Activities
PRIMARY SECTOR

The primary sector of the Indian


economy is mainly based on the
availability of natural resources. The
goods manufactured by this sector are
also largely based on the availability of
the natural resources. Natural
resources are also required for the
execution of certain processes in this
sector. All the services of this sector are
completely dependent on the presence
of sufficient natural resources just to
keep up with the required day to day
operations. The primary sector
economic activities are agriculture and
forestry, animal husbandry, fishing,
poultry farming, and mining.
Agriculture

Forestry
Mining

Animal Husbandry
Secondary Sector

The secondary sector is the sector of


the Indian economy that is dependent
on the natural ingredients. The
natural ingredients are used to create
the products or services offered. These
products are dated for consumption at
the end. This sector is the best sector
in terms of value-added to services
and products. The secondary sector
economic activities include
manufacturing etc.

Manufacturing (Industry)
Tertiary Sector

The Tertiary sector is similar to the


secondary sector in terms that it too
adds to the value of the products. This
sector is associated with the
downstream processing of natural
goods. This sector is the largest
contributor to the GDP of the nation.
The Tertiary sector is important for the
development of the other two sectors.
The tertiary sector economic activities
include IT services, consulting, trade,
transport, communication, banking,
insurance, education, healthcare and
tourism.

IT
TRADE

TRANSPORT
CONSULTING

COMMUNICATION
BANKING

INSURANCE
EDUCATION

HEALTHCARE
TOURISM
Market & Non Market
Activities

MARKET ACTIVITES
The economic activities performed with
the purpose of generating income or
profit, are called market activities. It
includes the payments made to
someone who carries out an action to
earn revenue like the production of
goods and services for customers, and
salaried jobs.

Market Activity
Non Market Activities
Non Market Activity

The economic activities performed with


the purpose of producing or gathering
things for self-consumption are called
non-market activities. In non-marketing
activities, production is for self-
consumption. Non-marketing doesn’t
provide any benefit. Example:
manufacturing of primary commodities
for the manufacture of goods and self-
service one’s own.
Non Market Activity
Small Scale farming
Fishing
Domestic Chores

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