GK
BUSINESS ECONOMICS
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Primary
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Secondary
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Teritiary
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Quaternary
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Detailed explanation-1: -The primary sector of the economy includes any industry involved in the extraction and production of raw materials, such as farming, logging, fishing, forestry and mining.
Detailed explanation-2: -Primary activities include hunting and gathering, pastoral activities, fishing, forestry, agriculture, and mining and quarrying. People involved in primary activities are called red-collar workers due to the outdoor nature of their work. Gathering and hunting are the oldest economic activities known.
Detailed explanation-3: -Examples of primary economic activities Crop Production such as oilseed, grain, fruit, vegetable, melon, and tree nut farming and greenhouse, nursery, and floriculture production. Animal products such as cattle ranching; hog, sheep, goat, and pig farming; poultry and egg production; and animal aquaculture.
Detailed explanation-4: -Fishing comes under the Primary Sector of the economy as the primary sector deals with the natural resources fishing come under the primary sector. The economic activities are broadly classified into three broad categories according to the nature of such activities.