ECONOMICS (CBSE/UGC NET)

ECONOMICS

ECONOMIC DEVELOPMENT

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
Less industrialized countries are more involved in
A
market-oriented and commercial agriculture
B
cottage industries and the primary/secondary sectors
C
commercial industries
D
service sectors (tertiary)
Explanation: 

Detailed explanation-1: -The secondary sector further processes and produces goods and the tertiary industry provides services and strengthens the other two.

Detailed explanation-2: -The secondary sector is important because it promotes the development of the Primary and the Tertiary sectors. It also contributes significantly to the GDP of India and employment basket. It also helps to convert the products from primary sector into consumer usable products.

Detailed explanation-3: -Primary industries focus on converting and extracting raw materials. Secondary industries perform the function of converting and processing raw materials into usable goods. Tertiary industries provide services that are intangible in nature.

Detailed explanation-4: -The secondary sector covers the manufacturing of goods in the economy, including the processing of materials produced by the primary sector. It also includes construction and the public utility industries of electricity, gas, and water.

There is 1 question to complete.