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Do you think the classification of economic activities into principal, secondary and tertiary is advantageous? Explain how. The classification of economic activities in to primary, secondary and tertiary is useful because of the information it provides on how and where the people of a country are employed. Likewise, this helps in ascertaining about which sector of economical activity adds more or less to the country's GROSS DOMESTIC PRODUCT and every capita profits. If the tertiary sector can be developing faster than the major sector, thenВ it implies that culture is using up, and the govt must take measures to rectify this. The knowledge the fact that agricultural job is becoming unpopular or regressive can only come if we know which sector it is. Hence, it is necessary to classify monetary activities in these 3 basic sectors for easy economic administration and development. Question 7:
For each with the sectors that individuals came across from this chapter why exactly should one give attention to employment and GDP? Can there always be other concerns which should be evaluated? Discuss. For each of the areas that we discovered in this part, one should focus on employment and GDP since these determine the size of a country's economy. A focus on employment and GDP assists determine two important thingsвЂ”per capita income and productivity. Hence, in each of the 3 sectors, work rate and status and its contribution to the GDP help all of us understand how that particular sector is usually functioning and what must be done to initiate further development in this. Question on the lookout for:
How is the tertiary sector different from various other sectors? Illustrate with a few examples. The tertiary sector is different from the other sectors since it does not produce or produce anything. That is why, it is also known as the service sector. It helps the primary and secondary areas in advancement. The tertiary sector requires services just like transport, storage space of goods, communications, banking and administrative function. Question twelve:
What do you understand by concealed unemployment? Explain with an example each from your urban and rural areas. Disguised lack of employment is a form of underemployment exactly where one has employment but the job is divided. It is not apparent as compared to someone without a job who will be clearly out of work. In rural areas, this can be seen in the farming community where almost all members of any family might be working on a farm even though so many hands are not necessary. They do so because of deficiency of another work. In cities, disguised unemployment can be seen in the service sector where painters, plumbers, restore persons and the ones doing strange jobs have work but they may not locate daily or regular employment. Question 14:
Distinguish between available unemployment and disguised unemployment. Open unemployment is each time a person is without job available and does not earn anything at all. Hidden unemployment, however, is mostly found in the unorganised sector in which either job is not consistently readily available or too many people are employed for a few work it does not require a lot of hands. This can be the essential difference between wide open unemployment and disguised unemployment. Question 12:
" Tertiary sector is definitely not playing any significant role inside the development of American indian economy. вЂќ Do you agree? Give factors in support of your answer. " Tertiary sector is not really playing virtually any significant position in the development of the American indian economyвЂќ. This kind of statement is usually not true. The tertiary sector has offered vastly towards the Indian overall economy, especially in the last two decades. Within the last decade, the field of information technology is continuing to grow, and consequently, the GDP share of the tertiary sector is continuing to grow from around 40% in 1973 to more than 50% in the year 2003. Question 13:
Service sector in India employs two different kinds of persons. Who happen to be these? Service sector in India engages two different varieties of people. These are generally primary and ancillary staff. Primary employees...