ECONOMICS
TRADE EXCHANGE AND INTERDEPENDENCE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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economic calibration
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industrialisation
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structural transformation
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economic adjustment
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Detailed explanation-1: -Q. In 2016-17, the contribution of primary, secondary and tertiary sectors to India’s GDP (hypothetical figures) was 17.6%, 28.2% and 54.2% respectively. In 2017-18, these shares were 17.7%, 27.0% and 55.3% respectively. Present this information in the form of a table.
Detailed explanation-2: -The service sector, also called the tertiary sector contributes most of the GDP in India.
Detailed explanation-3: -Primary sector – Mining, forestry, farming, and fishing. Secondary sector – Manufacturing, such as the production of automobiles and steel. Tertiary sector industries – Teaching, finance, banking jobs.
Detailed explanation-4: -They are three sectors in the Indian economy, they are; primary economy, secondary economy, and tertiary economy. In terms of operations, the Indian economy is divided into organized and unorganized. While for ownership, it is divided into the public sector and the private sector.