Economics - sectors by Malavika Pradeep

Primary sector

malavikapradeep2701 — 2021-07-23 09:42:18 UTC

Secondary sector

malavikapradeep2701 — 2021-07-23 09:43:27 UTC

Teritary Sector

malavikapradeep2701 — 2021-07-23 09:43:56 UTC

Are each sectors dependent on each other?

malavikapradeep2701 — 2021-07-23 09:46:20 UTC

Historical change

malavikapradeep2701 — 2021-07-23 09:46:48 UTC

The production of goods by exploiting natural resources.

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ALSO KNOWN AS

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Agriculture and related sector

It is the base for all the other products that we subsequently make.

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The development of the primary and secondary sectors

(Eg)

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Coconut Shell , Mud, Petroleum

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The tertiary sector is also called the service sector.

The secondary sector covers activities in which natural products are changed into other forms .

malavikapradeep2701 — 2021-07-23 10:00:13 UTC

Eg:

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Education, Service industry, Event managers

Through ways of manufacturing that we associate with industrial activity.The product is not produced by nature but has to be made

malavikapradeep2701 — 2021-07-23 10:01:08 UTC

This could be in a factory, a workshop or at home. For example,using cotton fibre from the plant , which is used in textile industries .

malavikapradeep2701 — 2021-07-23 10:02:26 UTC

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Depended mainly, but not entirely on natural resources.

EXAMPLES :

malavikapradeep2701 — 2021-07-23 10:03:40 UTC

Natural Fibre Wires , Brick Manufacturing , Kerosene.

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Generally, it has been noted from the histories of many, now developed, countries that at initial stages of development, primary sector was the most important sector of economic activity.

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The three sectors have a large number of

people working in them to produce these goods and services.

The next step, therefore, is to see how much goods and services

are produced and how many people work in each sector.

Many new desirable changes can be noticed in the sectors too.The agriculture sector began to prosper,it produced much more food than before.

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Every good (or service) that is produced and sold needs to be

counted. It makes sense only to include the

final goods and

services

There were increasing number of craft-persons and traders. Buying andselling activities increased many times.Besides, there were also transporters,administrators, army etc.

malavikapradeep2701 — 2021-07-23 10:23:34 UTC

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Take, for instance, a farmer who sells wheat to a

flour mill for Rs 8 per kg.

The value of final goods and

services produced in each sector

during a particular year

provides

the total production of the sector

for that year.

New methods of manufacturing were introduced , factories came up and started expanding. Those people who had earlier worked on farms now beganto work in factories in large numbers.

malavikapradeep2701 — 2021-07-23 10:24:23 UTC

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And  the  sum  of production in the three sectors gives what  is  called  the Gross  Domestic Product (GDP)of a country.  It is thevalue  of  all  final  goods  and  servicesproducedwithin a countryduring aparticular year. GDP shows how big the economy is.

Secondary sector gradually becamethe most important in total productionand employment.Hence, over time, ashift had taken place. This means thatthe importance of the sectors had changed

malavikapradeep2701 — 2021-07-23 10:25:51 UTC

The secondary Sector is also called industrial sector . [ Very important ]

malavikapradeep2701 — 2021-07-26 04:33:51 UTC