What are Primary Secondary and Tertiary Sectors? | Types of Economic Activities

Primary, Secondary and Tertiary Sector

Primary, Secondary, and Tertiary sectors are parts of Economic Activities. Primary Sector The primary sector is that sector where all the activities can be done by exploiting the natural resources Such as Agricultural activities(Farming, fishing, lodging, etc.), Mining, Oil Extraction, etc. This sector is known as the “Primary Sector” & known as the “Agriculture Sector”. … Read more

Explain about what is Economic and Non-Economic Activities

Economic Activity Economic activity is an activity where money is involved is basically known as Economic activity in other definitions, we can say that it is an activity making production, distribution, exchange, and consumption of goods and services known as economic activities. Let’s understand with an example: Suppose there is a person named “Adam” who … Read more

Explain about Economics and its types

Economics Economics is the study of how society uses its scarce resources to create value. Like suppose India has limited resources to distribute among consumers, but the problem is that consumers are unlimited or we can say that RESOURCES < CONSUMER, now how to manage this problem, so here the word comes “economics” Which explains … Read more

What is Economic Growth and Development | Difference b/w Economic growth and Development

Economic Growth The term “economic growth” refers to the output that measures how much production of goods and services are produced in a country. It basically tells about the quantity of production. In simple words we can say that it is a process of increasing the value of goods and services produced in an economy … Read more

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