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Economics - Composition of Gross Domestic Product (GDP) | 10th Social Science : Economics : Chapter 1 : Gross Domestic Product and its Growth: an Introduction

Chapter: 10th Social Science : Economics : Chapter 1 : Gross Domestic Product and its Growth: an Introduction

Composition of Gross Domestic Product (GDP)

Indian economy is broadly divided into three sector

Composition of Gross Domestic Product (GDP)

Indian economy is broadly divided into three sector

 

1) Primary Sector: (Agricultural Sector)

Agricultural sector is known as primary sector, in which agricultural operations are undertaken. Agriculture based Allied activities, production of raw materials such as Cattle farm, fishing, mining, forestry, corn, coal etc. are Forestry also undertaken.


 

2) Secondary Sector: (Industrial Sector)

Industrial sector is secondary sectors in which the goods and commodities are produced by transforming the raw materials. Important industriesare Iron and Steel industry, cotton textile, Jute, Sugar, Cement, Paper, Petrochemical ,automobile and other small scale industries.


 

3) Tertiary: (Service Sector)

Tertiary sector is known as service Sector which includes Government, scientific research, transport communication, trade Postal and Telegraph postal and telegraph, Banking, Education, Entertainment, Healthcare and Information Technology etc..


In the 20th century, economists began to suggest that, traditional tertiary services could be further distinguished from “quaternary” and “quinary” service sectors.





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10th Social Science : Economics : Chapter 1 : Gross Domestic Product and its Growth: an Introduction : Composition of Gross Domestic Product (GDP) | Economics


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