Q. 11.Chapter– 2 Sectors Of The Indian Economy
Primary activity: Primary activity includes those occupations which are closely related to man’s natural environment.Gathering, hunting, fishing, lumbering, animal rearing, farming and mining are some of the example of primary activity.Secondary activity: The occupation which produces finished goods by using the products of primary activities as raw materials are included in the secondary activity. Manufacturing of cloth from cotton, sugar from sugarcane, and steel from iron-ore are important examples of secondary activity.Tertiary Activity: Tertiary activity consists of all services occupations. Transport, communication, trade, health, education and administration are important examples of tertiary activity.Private sector: Private individuals or companies posses the ownership of assets and delivery of services. Public Sector: government possesses the ownership of assets and delivery of services.Economic activities: All such activities which undertaken by people with the object of earning money is called economic activities.Non-economic activities: All such activities which are undertaken to satisfy social, psychological and emotional needs and does not provide money in return is called non-economic activities.Organized Sector: Here people have assured work and terms of employment are regular. Rules and regulations given in various laws are followed as they are registered by the government.
Unorganized Sector: It consists of small and scattered units which are largely outside the control of the government. It is characterized by low-paid and insecure jobs. Rules and regulations are not followed.Intermediate goods: All goods which are used as raw material for further production of other goods or for resale in the same year are known as intermediate goods, eg. Biscuits, are final goods but flour, milk, sugar, salt, fuel etc used in making biscuits are intermediate goods.Unemployment: It is a situation, when a person is able and willing to work but did not find gainful job.Disguised Unemployment: A situation in which more persons are employed on a job than is optimally required! If a part of the labour force is withdrawn and the total production remains unchanged, this withdrawn labour will be known as disguised unemployed labour.Seasonal Unemployment: It is a situation when a person is involved in certain work during some months of the year and without work the rest of the year.
Structural Unemployment: Unemployment caused by the fact that the economy fails to generate enough jobs. It is the result of the backwardness and low rate of economic development of a country. It is generally witnessed in the underdeveloped countries. Eg: A change of energy use from coal to electric power is bound to curtail coal mining activity and cause unemployment there.Cyclical Unemployment: It is due to slackening (slow moving) of demand for goods, generally witnessed in developed countries.Frictional Unemployment: The temporary unemployment which exists during the period of the transfer of labour from one occupation to another is called frictional unemployment. It is due to ignorance of labour about job opportunities.Skilled labour: He is the one who has proper training and education to work in a particular field.Gross Domestic Product (GDP): Gross Domestic Product is the market value of the final goods and services produced within the domestic territory of a country during one year.
Q.1 What are final goods?
Ans.Final goods are those goods which are used either for the final consumption or for capital formation. These are not resold. In short, final goods have crossed the boundary line of production, and are ready for the use by the final users. Cloth, air conditioners and refrigerators are examples of final goods.
Q.2 What are basic services?
Ans. In any country, several services such as hospitals, educational institutions, post and telegraph services, police stations, courts, village administrative offices, Municipal Corporation, defence, transport, banks, insurance companies, etc. are required. These are considered as the basic services.
Q.3 Distinguished between the organized and the unorganized sector.
Ans. Organized Sector
Unorganized sector
