Economics · General Awareness
Economic Sectors and Infrastructure
1,785 Questions
This topic covers the classification of primary, secondary, and tertiary economic sectors, along with their infrastructure requirements. Questions often explore the impact of globalization, privatization, and technology on various industries. This material is frequently tested in SSC, state PSC, and UPSC examinations.
Primary and secondary sectorsBanking and service sectorPrivatization and economic reformsIndustrial growth and laborFive-Year Plans priorities
Economic Sectors and Infrastructure Questions
Entertainment and Telecommunication comes under __________.
-
tertiary sector
-
primary sector
-
secondary sector
-
none of the above
A
Correct answer
Explanation
Entertainment and telecommunication are service-oriented industries that do not involve the extraction of raw materials or manufacturing, placing them firmly in the tertiary sector.
Retail and Wholesale this are the occupations of ___________.
-
primary sector
-
secondary sector
-
Tertiary sector
-
none of the above
C
Correct answer
Explanation
Retail and wholesale trade involve the distribution and sale of goods, which is a service activity categorized under the tertiary sector.
Tertiary sector is known as ___________.
-
service sector
-
Business sector
-
Both a and b
-
none of these
A
Correct answer
Explanation
The tertiary sector is widely known as the service sector because it provides intangible services to consumers and businesses, unlike the primary (agriculture) and secondary (manufacturing) sectors.
Tertiary sector is the _________ sector of economy.
-
soft
-
hard
-
both a and b
-
none of these
A
Correct answer
Explanation
In economic classification, the tertiary sector is often referred to as the soft sector because it deals with services, information, and knowledge, as opposed to the hard sector (manufacturing/industry).
Insurance and Tourism is the occupation of _________.
-
primary sector
-
secondary sector
-
tertiary sector
-
none of these
C
Correct answer
Explanation
Insurance and tourism are service-based industries that support the economy, falling under the tertiary sector.
Educational industry is most growing _____________ industry in India.
-
primary
-
secondary
-
tertiary
-
none of the above
C
Correct answer
Explanation
Education is a service industry that has seen significant growth in India, making it a key component of the expanding tertiary sector.
Consulting is the occupation of ___________.
-
tertiary industry
-
secondary industry
-
both a and b
-
none of the above
A
Correct answer
Explanation
The tertiary industry, also known as the service sector, involves the provision of services rather than the production of goods. Consulting is a professional service, placing it firmly within the tertiary sector.
Tertiary activity includes ________.
-
Insurance.
-
Smelting.
-
Mining.
-
Weaving.
A
Correct answer
Explanation
The tertiary industry is that industry which provides services rather than producing good or article.
insurance is the tertiary industry as it provides us the guarantee of compensation for specified loss, damage, illness, or death in return for a payment of a specified premium
Developed countries have a higher proportion of their workforce engaged in _____.
-
Tertiary activities.
-
Secondary activities.
-
Quaternary activities.
-
Primary activities
A
Correct answer
Explanation
Tertiary
– The service sector of the economy
Definition – The service sector is comprised of firms offering
‘intangible goods’ such as entertainment, retail, insurance, tourism and
banking. The service sector will make use of manufactured goods, but there is
an additional component of offering a service to customers.
In a developed economy like the UK, the service sector is the biggest component of
the economy, comprising nearly 80% of GDP and a similar ratio of employment. In
the US, the service sector comprises 70% of the workforce.
In the UK, the main sectors of the service sector include:
- Retail industry
- Computer and I.T.
services
- Hotels and tourism
services
- Restaurants and Cafes
- Transport – rail, bus,
air, sea
- Communication
- Banking services
- Insurance services
- Pension services
- Food and beverage
services
- Postal services
Primary activity includes _______.
-
Construction work
-
Mining
-
Communications
-
Administration services
B
Correct answer
Explanation
Mining is a primary activity. It also includes hunting and gathering, pastoral activities, fishing, forestry, agriculture, and mining and quarrying.
Which of the following is a tertiary occupation?
-
engineering
-
agriculture
-
fishing
-
tourism
D
Correct answer
Explanation
Among the following options tourism falls under tertiary occupation
Tertiary sector: this is also called service sector. Activities
associated with this sector include retail and wholesale sales, transportation
and distribution, entertainment movies, television, radio, music, theater,
restaurants, clerical services, media, tourism, insurance, banking, healthcare,
and law.
Processing and converting raw materials into a finished form is called _____ activity.
-
Primary
-
Secondary
-
Tertiary
-
Quinary
B
Correct answer
Explanation
- Manufacturing and industry sector are known as the secondary sector, includes all branches of human activities that transform raw materials into products or goods.
- The secondary sector includes processing of raw materials, food manufacturing, textile manufacturing and industries making finished goods from raw materials.
Policy makers belong to the following category.
-
Primary activity
-
Secondary activity
-
Quinary activity
-
Quarternary activity
C
Correct answer
Explanation
- The people working in quinary sector are involved in decision making.
- Contrary to consultants who provide recommendations, the population in the quinary sectors takes final actions.
- Today, it is mainly constituted of CEOs and top-executives from the government.
In the _______ countries, the primary and secondary activities predominate.
-
Developed
-
Developing
-
Undeveloped
-
Poor
B
Correct answer
Explanation
Developing countries tend to rely more on the first two sectors because these two industry becomes an important source of economic growth, employment, tax revenue, and export earnings.
Developing economies have a large and elastic supply of labor willing and able to work in these industries.
Primary activities and secondary activities require large amount of labours.
Legal authority is an example of _____ activity.
-
Quaternary
-
Primary
-
Secondary
-
Quinary
D
Correct answer
Explanation
The highest level of decision-makers or policy makers performs quinary activities. People involved in this sector are called ‘gold collar’ professionals because they are highly skilled and paid senior business executives, research scientists, legal and financial consultants.