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Non-Competitive Markets
Sectors of an Economy
For preparing estimates of national income, all producing units of an economy are classified into three industrial sectors: primary, secondary and tertiary sectors on the basis of nature and source of inputs. For example, (i) primary sector exploits natural resources, (ii) secondary sector transforms one type of commodity into other, and (iii) tertiary sector renders services.
Sponsor Area
Giving reasons categorise the following into intermediate products and final products:
(i) Furniture purchased by a school
(ii) Chalks, dusters purchased by a school.
Giving reasons categorise the following into stocks and flows:
(i) Losses (ii) Capital (iii) Production (iv) Wealth.
Sponsor Area
Sponsor Area