Why is primary sector called primary and what is it also called
It forms the base for all other products that we subsequently make an it is also called agriculture and related sector
Secondary sector is also called _____ why
Industrial sector as natural products are changed into other forms through ways of manufacturing that you associated with industrial activities
While calculating GDP why is final value considered instead of value of intermediate goods only final value is considered as an intermediate good because the values of intermediate good is already adjusted in the final
Final goods values considered rather than intermediate good because the value of intermediate good is already adjusted in the final good
Define GDP and who calculates the GDP
Gross domestic product is the value of a final good and services produced within the country during 1 year. it is calculated by ministry of Central Government
Why is tertiary sector rising/what is the importance of tertiary sector
Services like hospital schools banks etc considered basics services
The development of agriculture and industrial sector lead to development of tertiary sector
As income level rises people demand more services like travelling eating out etc
Overpass ticket services based on information and communication technology have become important and essential
Where are most people employed
How can government create more employment
It can invest on transportation and road
Can provide cheap loans to small farmers
Promote tourism
Invest in healthcare and education sector
Provide with raw material to small scale industries
Differentiate between public sector and private sector
On my individual, owned by government
Motivate on profit, motive is to serve people
What is disguised unemployment and open unemployment
Disguise employment is an a person is apparently working what is made to work less than his or her potential they don't help in growth of economy. Open employment is when a person willing to work is educated but is unable to get a job
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