Types of Business Sectors
Sonam Yangchen Gurung
Business and Management HL
Mr. Sanjeev Lama
20.09.12
TYPES OF BUSINESS SECTORS
There are three types of business sectors in an economy. Primary, secondary and tertiary. Primary sector comprises of agricultural based or small scale industries in which investment is very low. For eg. Farming. It involves production of raw materials. The secondary sector consists of industries which focuses on manufacture of certain products and the output of the primary sector serves as the input for this sector. Whereas, the tertiary sector is mostly service based and comprises of transport facilities, schools, hospitals, tourism etc.
In Nepal, the economy is dominated by agriculture, hence majority of the population of Nepal are engaged in the primary sector. The tarai region of Nepal has provided great supply of crops like rice and corn, for the country. Areas on which agriculture is practiced has increased from 6,200 hectares to nearly 5,83,00 hectares since 1990. The secondary sector in Nepal is very less significant. Very little products are manufactured in Nepal itself and people depend on foreign products. However Nepal’s handicrafts have done quite well, whereas other products of Nepal have not proved to be very successful in the secondary sector. Lastly, the tertiary sector of Nepal has been doing well and this is mostly because of tourism, which further profits the hotels, restaurants of Nepal. The tourism in Nepal has contributed a lot to the GDP and national income in the Nepalese economy. Nepal also emerged as major contributor to the GDP of the world.
Nepal being a developing country hasn’t developed all sectors. The primary and tertiary have proven to contribute quite much to the economy, whereas the secondary sector still needs a lot of furnishing. We hope Nepal manufactures more products and captures international markets in the later years.
SOURCE: www.nepseguide.com
Business and Management HL
Mr. Sanjeev Lama
20.09.12
TYPES OF BUSINESS SECTORS
There are three types of business sectors in an economy. Primary, secondary and tertiary. Primary sector comprises of agricultural based or small scale industries in which investment is very low. For eg. Farming. It involves production of raw materials. The secondary sector consists of industries which focuses on manufacture of certain products and the output of the primary sector serves as the input for this sector. Whereas, the tertiary sector is mostly service based and comprises of transport facilities, schools, hospitals, tourism etc.
In Nepal, the economy is dominated by agriculture, hence majority of the population of Nepal are engaged in the primary sector. The tarai region of Nepal has provided great supply of crops like rice and corn, for the country. Areas on which agriculture is practiced has increased from 6,200 hectares to nearly 5,83,00 hectares since 1990. The secondary sector in Nepal is very less significant. Very little products are manufactured in Nepal itself and people depend on foreign products. However Nepal’s handicrafts have done quite well, whereas other products of Nepal have not proved to be very successful in the secondary sector. Lastly, the tertiary sector of Nepal has been doing well and this is mostly because of tourism, which further profits the hotels, restaurants of Nepal. The tourism in Nepal has contributed a lot to the GDP and national income in the Nepalese economy. Nepal also emerged as major contributor to the GDP of the world.
Nepal being a developing country hasn’t developed all sectors. The primary and tertiary have proven to contribute quite much to the economy, whereas the secondary sector still needs a lot of furnishing. We hope Nepal manufactures more products and captures international markets in the later years.
SOURCE: www.nepseguide.com