Classify the economic sector on the basis of nature of activities. Mention the main feature of each.
WE can classify the economic sector on the basis of nature of activities in three sectors, namely, Primary, Secondaiy and Tertiary sector.
- The product we get from the nature belongs to primary sector as agriculture.
- The manufacturing sector where the goods are produced can be classified as secondary sector (Products that are manufactured and are atleast - partly artificial / man made material).
- The service sector can be classified as Tertiary sector (Products that are not goods but are services rendered by people either to others or for production (engineering, transport, banking etc.).