Sectors of Economic Activities Class 10

Economic activities

Economic activities are those efforts which are undertaken by man to earn Income, Money, Wealth for his life and to secure maximum satisfaction of wants with limited and scarce means. All economic activities may be divided into following sectors of economy.

Primary Sector of Economy- 

The primary sector of the economy is the sector of the economy making main use of natural resources. This includes agriculture, dairy farming, forestry and fishing, mining, and the extraction of oil and gas. This is in contrast to the secondary sector producing manufactured and other processed goods and the tertiary sector producing services. The primary sector is usually most important in less developed countries, and is usually less important in industrialized countries.

Secondary Sector of Economy- 

Manufacturing and Industry sector known as the secondary sector , sometimes as the production sector. The secondary sector includes secondary processing of raw materials, food manufacturing, textile manufacturing and industry. Most of this sector is mechanical engineering. For example: making sugar from sugarcane or making cement from lime stone and then construction a house.

Tertiary Sector of Economy- 

Activities under tertiary sector include those that support the development of primary and secondary sector. It does not involve the production of goods but an aid to the produced goods. For example, transportation, communication, banking, insurance, health and education etc. It is also known as service sector.