CBSE Class 10 SST Economics Sectors of Indian Economy Notes

♦ Economic Activities : The activities which contribute to the flow of goods and services in an economy.

♦ GDP : It is the value of all final goods and services produced within a country during a particular year.

♦ Final Goods : Final goods are the goods which are ready for use. For example a pen.

♦ Intermediate Goods : These are the goods which are used up during the production process. For example cotton is used up during the production process of cloth.

♦ Right to Work : Under this Right all those who are ready to work at prevailing wages are given work by the government.

♦ Organised Sector : It is a sector which covers those enterprises or place of work where the terms of employment are regular and therefore people have regular work.

♦ Unorganised Sector : Any sector or industrial • unit which is largely outside the control of the government

♦ Public Sector : Any sector which is controlled and managed by the government is known as public sector for e.g. Indian Railway.

♦ 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 important examples of primary activity.

♦ Secondary Activity : The occupations which > produce finished goods by using the products i of primary activities as raw materials are included j 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 service occupations. Transport, communication, trade, health, education and administration are important examples of tertiary activity.

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