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Fill in the blank: SECTOR CRITERIA USED Primary, Secondary and Tertiary Nature of economic activity Organized and Unorganized ?

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Question

Fill in the blank:

SECTOR CRITERIA USED
Primary, Secondary & Tertiary Nature of economic activity
Organized & Unorganized ?

Options

  • Nature of Employment activities

  • Nature of Social activities

  • Nature of Production activities

  • Nature of Political activities

MCQ
Fill in the Blanks
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Solution

Nature of Employment activities

Explanation:

Organized and unorganised sectors are two ways of categorizing economic employment activity.

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Sectors of Economic Activities
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2022-2023 (March) Sample

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For comparing countries, their income is considered to be one of the most important attributes. Countries with higher income are more developed than others with less income. This is based on the understanding that more income means more of all things that human beings need. Whatever people like, and should have, they will be able to get with greater income. So, greater income itself is considered to be one important goal. Now, what is the income of a country? Intuitively, the income of the country is the income of all the residents of the country. This gives us the total income of the country. However, for comparison between countries, total income is not such a useful measure. Since, countries have different populations, comparing total income will not tell us what an average person is likely to earn. Are people in one country better off than others in a different country? Hence, we compare the average income which is the total income of the country divided by its total population. The average income is also called per capita income. In World Development Reports, brought out by the World Bank, this criterion is used in classifying countries. Countries with per capita income of US \$ 49,300 per annum and above in 2019, are called high income or rich countries and those with per capita income of US $ 2500 or less are called low-income countries. The rich countries, excluding countries of Middle East and certain other small countries are generally called developed countries.
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