Sectors of The Indian Economy Class 10 Notes Economics Chapter 2 – CBSEclass.In

Class 10 Economics Chapter 2 Sectors of the Indian Economy – CBSEclass.In

NCERT Notes

Primary Sector

Primary Sector is a sector of an economy making direct use of its natural resources. This includes agriculture forestry fishing and mining.

Secondary Sector

Example-Manufacturing and industrial activities etc.

Tertiary or Service Sector

All service sector is known as tertiary sector or service sector.

Example – Trade, Transport, Banking, Tourism etc

Private Sector

Private Sector is part of a country’s economic system runs by individuals and companies, rather than the government.

Public Sector

Public Sector usually comprised of organization that are owned and operated by the government and exist to provide services for its citizens.

Organized Sector

Organized Sector is a sector where the employment terms are fixed and regular, and the employees get assured work.

Unorganized Sector

Unorganized Sector is a sector where the employment terms are not fixed and regular, as well as the enterprises, are not registered with the government.

G.D.P

Gross Domestic Product (G.D.P.) is a monetary measure of the market value of all final goods and services produced in a period i.e. Sum of Primary sector+ secondary sector + Tertiary sector.

Hidden Unemployment

When more people are working that is needed and even if some people are removed from work, does not affect the total production. This situation is called disguised unemployment. It is also known as Hidden Unemployment.

Mahatma Gandhi National Rural Employment Guarantee Act was enacted in 2005 which aims to provide employment of 100 days in a year. If it fails to do so, government will provide unemployment allowances to the people.

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