The secondary sector of the economy including industries that produce a finished, usable product or are involved in construction.. Electronic equipment covers a large percentage of capital goods that are obtained in the secondary sector of the economy. The economy had grown much faster in the 2000 – 2005 period than the 1994 – 1999 period, with manufacturing the main under performer. 2. This sector is important for the Indian Economy because it provides livelihood to most of the population of the country. The assembly of these products is increasingly automated and modern. As a rule of thumb, we say the more advanced an economy is, the more its focus shifts from the primary, through the secondary to the tertiary sector. Primary Sector. The growth of secondary sector spread its influence during the industrial revolution in the nineteenth century. In macroeconomics, the secondary sector of the economy is an economic sector in the three-sector theory which describes the role of manufacturing.It encompasses the industries which produce a finished, usable product or are involved in construction.. At present, there are portable models whose components are made from primary materials. The structure of the economy was changing and the primary sector was in decline. Primary, secondary and tertiary sectors There are three main types of industry in which firms operate. primary sector, secondary sector and tertiary sector. Basic list of Manufacturing and Industry sector, the secondary sector is following: Automotive The economic activities are divided into three sectors, viz. Raw materials from the primary sector are changed into processed goods through ways of manufacturing in the secondary sector. A secondary sector is a sector whereby the raw material that is extracted from earth is converted to semi- finished goods or finished goods. The growth of secondary sector spread its influence during the industrial revolution in the nineteenth century. Businesses operate in the private, public or third sectors of the economy and in the primary, secondary or tertiary sectors of industry. The three-sector model in economics divides economies into three sectors of activity: extraction of raw materials (), manufacturing (), and services ().. Information, retail, scientific, technical and professional services form the major parts of this sector. According to new CBSE Exam Pattern, MCQ Questions For Class 10 Social Science with Answers Carries 20 Marks. According to the model, the main focus of an economy's activity shifts from the primary, through the secondary and finally to the tertiary sector. This can be contrasted with primary industries that produce raw materials and tertiary industries that produce services.A large secondary industry is characteristic of an industrial economy. What are the sectors of the economy? Let us understand the tertiary sector of the Indian economy in detail: The largest contribution to India’s GDP (53%) comes from the tertiary sector. This sector generally takes the output of the primary sector and manufactures finished goods or where they are suitable for use by other businesses, for export, or sale to domestic consumers. Sectors of Indian Economy - definition The sectors of the Indian economy are: (i) Primary sector: When a good is produced by exploiting natural resources, it is an activity of the primary sector. The first computer was the size of a football stadium. It contributes nearly 67.8% towards the GDP of the country. The secondary sector forms a substantial part of GDP, it creates values and it is the engine of economic growth and is crucial for all developed economies, although the trend, in most developed countries, is the predominant tertiary sector. Service companies do not provide a physical good like the primary or secondary sectors, but they still provide value. Higher services under tertiary activities are again classified into quaternary and quinary activities. MCQ Questions for Class 10 Social Science with Answers were prepared based on the latest exam pattern. The economy of a modern world can be discussed in terms of three sectors: primary, secondary and tertiary. A support system was needed to facilitate the industrial activity. This sector is often divided into light industry and heavy industry. We have Provided Sectors of Indian Economy Class 10 Economics MCQs Questions with Answers to help students understand the concept very well. Understanding the Tertiary Sector. The secondary sector of the economy includes industries that produce a finished, usable product or are involved in construction. After primary and secondary sectors, there is a third sector called the service sector also known as tertiary sector. Human activities which generate income are known as economic activities. India is also projected to become the third largest economy (Nominal GDP) in the world by 2043. The tertiary sector was growing strongly at the expense of manufacturing, agriculture and mining. The Primary Sector of the Economy. After growth of economic activity, a support system was the need to facilitate the industrial activity. Sectors of the Indian Economy CBSE Class 10 Economics Extra Questions With Solutions. Solution: The primary sector is called as such because it produces goods exploiting natural recourses. Secondary Sector. Secondary sector of the economy It is an economic sector in the three-sector theory which describes the role of manufacturing.It encompasses the industries which produce a finished, usable product or are involved in construction. … services sector is the part of the economy includes industries that produce a finished, product... 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