Question
Consider the following Statements about:
>             I.       Agriculture, Mining & quarrying are part of Primary Sector.            II.       Trade, transport, and Storage forms the Secondary sector.           III.       Electricity and gas supply are part of Tertiary sector. Which of the above statement(s) is/are CORRECT?Solution
Generally, we divide all economic activities into eight different industrial divisions. They are (i) Agriculture (ii) Mining and Quarrying (iii) Manufacturing (iv) Electricity, Gas and Water Supply (v) Construction (vi) Trade (vii) Transport and Storage and (viii) Services. For simplicity, all the working persons engaged in these divisions can be clubbed into three major sectors viz., (a) primary sector which includes (i) and (ii), (b) secondary sector which includes (iii), (iv) and (v) and (c) service sector which includes divisions (vi), (vii) and (viii). Â
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