ECONOMICS (CBSE/UGC NET)

ECONOMICS

ECONOMIC DEVELOPMENT

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
Potential primary economic activities are often restricted by which of the following?
A
corporate competition
B
physical environment
C
international exchange rates
D
local cultural norms
Explanation: 

Detailed explanation-1: -Mining and Farming are primary economic activity/activities. The primary sector of the economy includes any industry involved in the extraction and production of raw materials, such as farming, logging, hunting, fishing, and mining.

Detailed explanation-2: -Primary activities are directly dependent on environment as these refer to utilisation of earth’s resources such as land, water, vegetation, building materials and minerals. It, thus includes, hunting and gathering, pastoral activities, fishing, forestry, agriculture, and mining and quarrying.

Detailed explanation-3: -Primary activities include hunting and gathering, pastoral activities, fishing, forestry, agriculture, and mining and quarrying. People involved in primary activities are called red-collar workers due to the outdoor nature of their work. Gathering and hunting are the oldest economic activities known.

Detailed explanation-4: -The environmental impact of economic growth includes the increased consumption of non-renewable resources, higher levels of pollution, global warming and the potential loss of environmental habitats. However, not all forms of economic growth cause damage to the environment.

There is 1 question to complete.