i. What is meant by the term economic activity?
ii. Differentiate between primary and secondary activities.
Any activity which results in the generation of income is known as economic activities. It results in the generation and the transfer of income and resources in the economy. Economic activities can be broadly divided into primary, secondary, tertiary and quaternary activities. All these activities result in a constant generation of income and are thus termed economic activity.
ii.
PRIMARY ACTIVITIES | SECONDARY ACTIVITIES |
• It involves the extraction and utilisation of natural resources including land, water and minerals. | • It involves the transformation of the extracted natural resources into commodities and services. |
• The activities coming under this are hunting, pastoral, fishing, mining, forestry and agriculture. | • The activities coming under this are industrial manufacturing, processing and construction. |
• People engaged in this sector are red collar workers. | • People engaged in this sector are blue collar workers. |
• The activities under this are independent and self-sustaining. | • The activities under this depend on primary activities. |
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