ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -Tertiary Activity Involves industries which provide services for people. Examples: Doctor, lawyer, waitress, tourism industry, mechanic, teacher.

Detailed explanation-2: -Tertiary Economic Activities: Consist of those businesses and labor specialization that provide services to the general community. They include professionals such as teachers & professors, lawyers, medical officers, clerical and personnel services. Others include professions such as postal services and music.

Detailed explanation-3: -One can broadly classify five distinct examples of economic activities. These activities are producing, supplying, buying, selling, and the consumption of goods and services.

Detailed explanation-4: -Each economy functions based on a unique set of conditions and assumptions. Economic systems can be categorized into four main types: traditional economies, command economies, mixed economies, and market economies.

Detailed explanation-5: -The three-sector model in economics divides economies into three sectors of activity: extraction of raw materials (primary), manufacturing (secondary), and service industries which exist to facilitate the transport, distribution and sale of goods produced in the secondary sector (tertiary).