Chapter 2: Sectors of the Indian Economy
- How can the Indian economy be classified
- Ownership (Private Public and Joint)
- Nature of organisation (Organised /Unorganised)
- Types of economic activities (primary, secondary & tertiary)
- Define the term
- NSSO (national sample survey organization) It is the organization under the ministry of statistics of the government.It surveys the employment and unemployment of the workers.
- NSO National Statistical Office
- Why do you think MGNREGA 2005 is referred to as ‘Right to work’?
- MGNREGA Mahatma Gandhi National Rural Employment Guarantee Act or MGNREGA in 2009, is an Indian labour law that aims to guarantee the 'right to work'.
- TISCO tata iron and steel company limited
- RIL reliance industries limited
- Define the following in detail
- Primary sector
- Secondary sector
- Tertiary sector/service sector
What is GDP? How is it calculated?
The value of final goods and services produced in each sector during a particular year provides the total production of the sector for that year. And the sum of production in the three sectors gives what is called the Gross Domestic Product (GDP) of a country. It is the value of all final goods and services produced within a country during a particular year.
Why are only ‘final goods and services’ counted?
In contrast to final goods, goods such as wheat and the wheat flour in this example are intermediate goods. Intermediate goods are used up in producing final goods and services. The value of final goods already includes the value of all the intermediate goods that are used in making the final good.
- Explain the historical change in the proportion of workers in the three sectors of the economy. Or What does the history of developed countries indicate about the shifts that have taken place between sectors?
At initial stages of development, primary sector was the most important sector of economic activity
The secondary sector gradually became the most important in total production and employment.
In the past 100 years, there has been a further shift from secondary to tertiary sector in developed countries. The service sector has become the most important in terms of total production. Most of the working people are also employed in the service sector.
Why is the tertiary sector becoming so important in India? Or
First, in any country several services such as hospitals, educational institutions, post and telegraph services, police stations, courts, village administrative offices, municipal corporations, defence, transport, banks, insurance companies, etc. are required. These can be considered as basic services.
Second, the development of agriculture and industry leads to the development of services such as transport, trade, storage. Greater the development of the primary and secondary sectors, more would be the demand for such services.
Third, as income levels rise, certain sections of people start demanding many more services like eating out, tourism, shopping, private hospitals, private schools, professional training etc.
Fourth, over the past decade or so, certain new services such as those based on information and communication technology have become important and essential.
- Name the sector which is the largest employing sector. (Primary sector)
- Name the sector which has the most significant proportion of incoming GDP. (Tertiary sector)
- Why would you consider Kerala a more developed state than Haryana inspite a lower per capita income?(high literacy rate)
- What do you understand by the term Underemployment
- What do you understand by the term Disguised unemployment
- What do you understand by the term Casual worker
- How can more employment be created in rural areas? (5marks)
- Explain the characteristics of the organised sector
- Explain the characteristics of the Unorganised sector
- Who are the vulnerable people who need protection in the Rural areas
- Who are the vulnerable people who need protection in the Urban areasWhy is government intervention needed in various sectors?
- In what respects is the criteria used by the UNDP for measuring development different from one used by the World Bank?
- How would income and employment increase if farmers were provided with irrigation and marketing facilities?
- Distinguish between open unemployment and disguised unemployment.
- Workers are exploited in the unorganised sector. Do you agree with this view? Give reasons in support of your answer.
- Give a few examples of public sector activities and explain why the government has taken them up.
- Explain how public sector contributes to the economic development of a nation
- Explain any three ways to solve the problem of underemployment?or How can more employment be created in rural areas? (5marks)