ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -The primary sector of the economy actually removes or harvests products directly from the earth in order to extract raw materials or food. In other words, they provide the raw materials which will be used in the production process. Things like mining, farming, hunting, and forestry are all parts of the primary sector.

Detailed explanation-2: -The primary sector involves companies that participate in the extraction and harvesting of natural products from the Earth. Primary sector companies are typically engaged in economic activity that utilizes the Earth’s natural resources, which are sold to consumers or commercial businesses.

Detailed explanation-3: -The primary sector includes all those activities the end purpose of which consists in exploiting natural resources: agriculture, fishing, forestry, mining, deposits.

Detailed explanation-4: -Primary: involves the retrieval and production of raw-material commodities, such as corn, coal, wood or iron. Miners, farmers and fishermen are all workers in the primary sector. Secondary: involves the transformation of raw or intermediate materials into goods, as in steel into cars, or textiles into clothing.

Detailed explanation-5: -The primary sector includes basic industries like fishing, mining, and agriculture. The secondary sector has manufacturing industries. The tertiary sectors include final point industries like finance, hotel, trade, banking, and tourism.