*** Q.1.Explain the three sectors of economic activities with the help of examples. (Indian Economy)
Ans: Classification of economic sectors on the basis of nature of activities are as follows:
i.Primary Sector: When we produce goods by exploiting natural resources ,it is an activity of the primary sector, such as agriculture ,dairy farming,forestry etc.
ii. Secondary Sector: In this natural products are changed into other forms through by manufacturing that we associate with industrial activity.For example using cotton fiber from the plant we spin yarn and weave cloth.
iii.Tertiary Sector: It helps in the development of the primary and secondary sectors.They provide aid and the support for the production process.Transport,storage,banking,trade are some examples of this sector.
** Q.2.How Tertiary Sector is different from other sectors? Give examples. (Indian Economy)
Ans: Tertiary sector is different from other sectors because:
i.It does not provide or produce goods
ii.It provides services such as transport, IT, communication etc.
iii.It is the backbone of all the sectors.
iv. More the development of primary and secondary sector ,means increase the requirement of service sector.
*** Q.3. Distinguish between organised and unorganized sectors. (Indian Economy)
Ans: Organised Sector: In this sector ,in terms of employment are regular and people have assured work. They are registered by government and have to follow its rules and regulations which are given in various laws such as the factory act, minimum wages act etc. Workers in the organised sector enjoy safety of employment. They have fix working hour and also get several benefits of job.
Unorganized Sector:There are no rules and regulation followed. Jobs are low paid and often not regular. No provision of overtime is there and not paid holidays. Employment is not secure mostly temporary workers employed. People can ask to leave without reason.
** Q.4. What do you understand by disguised unemployment? Explain with example from rural and urban area.
Ans: Distinguished unemployment Is a situation, where people are apparent working but all of them are made to work less than there potential or capacity. If a few people move out from the job, it will not affect the production. It is hidden in contrast to the open unemployment where a person is clearly or visibly without job. Example
i.In rural areas, this can be seen in the farming community where all the members of a family might be working on a farm even though so many hands are not required. They do so because of lack of other job.
ii. In urban areas, disguised employment can be seen in the service sector where painters ,plumbers, repair persons and other are doing odd jobs.Many of them don’t find work everyday.
** Q.5.Distinguish between final goods and Intermediate goods . (Indian Economy)
Ans: Final goods: final goods are ready for consumption. Final goods are counted in GDP. Final goods are demanded by the consumer
Intermediate goods: Goods are required to produce final goods. Goods are not counted in GDP. These goods are only demanded by the producers.
Long Question (5 Marks)
*** Q.6. Describe any five provisions of ‘National Rural Employment Guarantee Act’2005.
Ans; Provisions of NREGA 2005 are
i.One hundred days assured employment every year to each rural household.
ii. One third of the proposed jobs to be reserved for women.
iii.If an applicant is not employed within 15 days ,he or she is entitled to a daily unemployment allowance.
iv.The government have to established a central employment guarantee funds and state employment guarantee funds for the implementation of the scheme.
v.The scheme is to be extending to 600 districts .
** Q.7.Explain any five features of Tertiary sector.
Why the tertiary sector is becoming more important now a days ?
Ans: Main features of Tertiary sector are –
i.It helps in the development of the primary and secondary sectors.
ii.It does not produced key a goods but they are an aid or a support for the production process.
iii.It also provides essential services that may not directly help in the production of goods such as services of teachers ,doctors ,barbers,lawyers etc.
iv.It transported the goods produced in the primary and secondary sectors and sold in wholesale and retail shops.
v.It provides transport,storage,communication,banking services.
vi. It co-ordinates all the sectors of economy after IT revolution.
** Q.8.Classify the sectors of economy on the basis of ownership.
Ans. Public Sector-
i.The government owns most of the assets and provides all the services.
ii.The purpose of the public sector is not to first to earn profits.The government raises money through taxes to meet expenses on the services rendered by it .
iii.Railways or post office is an example of the public sector.
i.Ownership of assets and delivery of services is in the hands of private individuals or companies.
ii.Activities in the private sector are guided by the motive to earn profit. To get such services we have to pay money to these individuals and companies.
iii. Tata Iron and Steel Company (TISCO) or Reliance Industries Ltd (RIL) are examples of private sector. Read more…