CBSE Class 10 Social Science Sectors Of Indian Economy Notes Set B

• Primary sector: When we produce goods by exploiting natural resources, it is an activity of the primary sector.
• Secondary sector: Covers activities in which natural products are changed into other forms through ways of manufacturing, it is also called as industrial sector.
• Tertiary sector: Activities that help in the development of the primary and secondary sectors. Since these activities generate services rather than goods, it is also called the service sector
• Gross Domestic Product (GDP): It is the value of all final goods and services produced within a country during a particular year.
• Underemployment: This is the situation of where people are apparently working but all of them are made to work less than their potential. This kind of underemployment is hidden in contrast to someone who does not have a job. Hence, it is also called disguised unemployment.
• Mahatma Gandhi National Rural Employment Guarantee Act 2005. (MNREGA 2005): Under NREGA 2005, all those who are able to, and are in need of, work have been guaranteed 100 days of employment in a year by the government. If the government fails in its duty to provide employment, it will give unemployment allowances to the people.
• Organised sector: It covers those enterprises or places of work where the terms of employment are regular and therefore, people have assured work.
• The unorganized sector: is characterised by small and scattered units which are largely outside the control of the government. There are rules and regulations but these are not followed.
• Public sector: In this sector government owns most of the assets and provides all the services.
• Private sector: In this sector ownership of assets and delivery of services is in the hands of private individuals or companies.
• Unemployment: It is a situation where the able bodied persons willing to work but are not able to get a work.

Sector of Economic Activities :

Primary Sector : When we produce a good by exploiting natural resources. It is an activity of the primary sector also known as agriculture and related sector.

Secondary Sector : Natural products are changed into others forms through ways of manufacturing. Also known as Industrial sector.

Tertiary Sector : These activities , by themselves, do not produce a good but they are an aid or a support for the production process. Also known as service sector.

Gross Domestic Production : the total value of final goods and services produced in each sector during a particular year provides the total production of the sector for that year.

Rising importance of the Tertiary Sector :

– In any country several services such as hospitals, educational institution, defence, transport, banks etc. are required.
– The development of agriculture and industry leads to the development of services such transport, banks are required.
– The development of agriculture and industry lends to the development of services such as transport, trade, storage.
– As income levels rise, certain sections of people start demanding many more services like tourism, shopping, private hospitals and private schools etc.
– Over the past decade or so certain new services such as those based on information and communications technology.

Disguised unemployment : More people engaged in than the people required for work. People do less work than their efficiency.

National Rural Employment Guarantee Act 2005

– 100 days work guarantee in year by the government.
– If government fails in its duty to provide employment. It will give unemployment allowances.
– Types of work given to improve production of land.

Organised Sector :

– Terms of employment are regular
– Registered by government
– Follows various rules and regulations
– It has some formal processes and procedures.

Unorganised Sector :

– Small and scattered units which are largely outside the control of the government.
– There are rules and regulations but these are not followed.
– Employment is not secure.