Save Earth

Topics: Economy, Debt, Loan Pages: 8 (2955 words) Published: June 23, 2013
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Question 6:
Do you think the classification of economic activities into primary, secondary and tertiary is useful? Explain how. The classification of economic activities into primary, secondary and tertiary is useful on account of the information it provides on how and where the people of a country are employed. Also, this helps in ascertaining as to which sector of economic activity contributes more or less to the country’s GDP and per capita income. If the tertiary sector is developing much faster than the primary sector, then it implies that agriculture is depleting, and the government must take measures to rectify this. The knowledge that the agricultural profession is becoming unpopular or regressive can only come if we know which sector it belongs to. Hence, it is necessary to classify economic activities into these three basic sectors for smooth economic administration and development. Question 7:

For each of the sectors that we came across in this chapter why should one focus on employment and GDP? Could there be other issues which should be examined? Discuss. For each of the sectors that we came across in this chapter, one should focus on employment and GDP because these determine the size of a country’s economy. A focus on employment and GDP helps determine two important things—per capita income and productivity. Hence, in each of the three sectors, employment rate and status as well as its contribution to the GDP help us understand how that particular sector is functioning and what needs to be done to initiate further growth in it. Question 9:

How is the tertiary sector different from other sectors? Illustrate with a few examples. The tertiary sector is different from the other sectors because it does not manufacture or produce anything. For this reason, it is also known as the service sector. It aids the primary and secondary sectors in development. The tertiary sector involves services like transport, storage of goods, communications, banking and administrative work. Question 10:

What do you understand by disguised unemployment? Explain with an example each from the urban and rural areas. Disguised unemployment is a form of underemployment where one has a job but the work is divided. It is not apparent as compared to someone without a job who is clearly unemployed. In rural areas, this can be seen in the farming community where all members of a family might be working on a farm even though so many hands are not required. They do so because of lack of another job. In urban areas, disguised unemployment can be seen in the service sector where painters, plumbers, repair persons and those doing odd jobs have work but they may not find daily or regular employment. Question 11:

Distinguish between open unemployment and disguised unemployment. Open unemployment is when a person has no job in hand and does not earn anything at all. Disguised unemployment, on the other hand, is mostly found in the unorganised sector where either work is not consistently available or too many people are employed for some work that does not require so many hands. This is the essential difference between open unemployment and disguised unemployment. Question 12:

“Tertiary sector is not playing any significant role in the development of Indian economy.” Do you agree? Give reasons in support of your answer. “Tertiary sector is not playing any significant role in the development of the Indian economy”. This statement is not true. The tertiary sector has contributed vastly to the Indian economy, especially in the last two decades. In the last decade, the field of information technology has grown, and consequently, the GDP share of the tertiary sector has grown from around 40% in 1973 to more than 50% in 2003. Question 13:

Service sector in India employs two different kinds of people. Who are these? Service sector in India employs two different kinds of people. These are primary and ancillary workers. Primary workers...
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