Do you think the classification of economic activities into primary, secondary and tertiary sectors is useful? Explain, how?
The classification of economic activities into primary, secondary and tertiary sectors is useful due to the reasons as mentioned below :
(i) It shows the employment conditions:The classification of economic activities show the employment conditions in different sectors. For example, in a developing country like India, most of the people are engaged in the primary sector which is also called agriculture and related sector. On the other hand, in the developed countries, like USA most people are employed in secondary and tertiary sectors.
(ii) For Government Planning:The classification of economic activities also helps the government to take steps so that more and more people are employed in non-agricultural sectors, particularly tertiary sector because this sector helps in the development of the primary and secondary sectors.
(iii) To know contribution of the people:Economic activities performed by different groups of people, their percentage and their contribution in G.D.P. Knowing the G.D.P. position:We come to know G.D.P. position through graphs and data of these sectors and their share in percentage.
(iv) Share of sectors:We also come to know through the classification about the share of sectors in employment (percentage). The classification also tells us number of workers engaged in different sectors (in lakhs/millions).
(v) Knowledge of economic activities: Classification of sector informs us economic activities performed in a country.