ECONOMICS (CBSE/UGC NET)

ECONOMICS

ECONOMIC DEVELOPMENT

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
This sector of the economy adds value to natural resources by transforming raw materials into valuable products.
A
Primary
B
Secondary
C
Tertiary
D
Quaternary
Explanation: 

Detailed explanation-1: -Secondary activities add value to natural resources by transforming raw materials into valuable products. Cotton in the boll has limited use but after it is transformed into yarn, becomes more valuable and can be used for making clothes.

Detailed explanation-2: -The primary sector refers to the part of the economy that produces raw materials, such as crude oil, timber, grain, or cotton. The secondary sector, made up of mills and factories, turns the raw materials into manufactured goods, like fuel, lumber, flour, or fabric.

Detailed explanation-3: -The secondary sector includes all manufacturing activities where raw materials are transformed into finished goods. Industries related to construction, automobiles, household appliances, electronics, etc., are all counted under the secondary sector.

Detailed explanation-4: -The secondary sector covers all those activities consisting in varying degrees of processing of raw materials (manufacturing, construction industries).

Detailed explanation-5: -The secondary sector is also called the manufacturing industry. The main function of it is that it readies the resources or the materials that are raw and which are provided by the primary sector for use in goods and services.

There is 1 question to complete.