ECONOMICS (CBSE/UGC NET)

ECONOMICS

ECONOMIC GROWTH

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
True or False. Agriculture is considered as the primary sector in the economy.
A
True
B
False
C
Either A or B
D
None of the above
Explanation: 

Detailed explanation-1: -The correct answer is option (A), primary sector. 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: -When the activities are based directly on the natural resources, it is known as primary sector. An example of primary sector is agriculture.

Detailed explanation-3: -Primary activities It, thus includes hunting and gathering, pastoral activities, fishing, forestry, agriculture, and mining and quarrying.

Detailed explanation-4: -The primary sector includes all those activities the end purpose of which consists in exploiting natural resources: agriculture, fishing, forestry, mining, deposits.

Detailed explanation-5: -Agriculture, Mining, Fishing, Forestry, and Dairy are some examples of the primary sector of the Indian economy. These are called so because it forms the base for all other products. It contributes around 29.6 % of the Indian GDP.

There is 1 question to complete.