Quick Answer: What Are 4 Types Of Economic Activities?

What is the economic activity give example?

The production, distribution, and consumption of commodities is economic activities.

Eg: goods and services is an example of primary economic activity..

What are primary economic activities?

The Primary sector of the economy includes any industry involved in the extraction and production of raw materials, such as farming, logging, hunting, fishing, and mining. The primary sector tends to make up a larger portion of the economy in developing countries than it does in developed countries.

What are the 5 types of economic activities?

Five Categories of Economic ActivityRaw Materials and Primary Sector Jobs. Physical resources that are coaxed or extracted from the earth provide the basis for the primary sphere of economic activity. … Manufacturing and Industry. … The Service Industry. … The Intellectual Sector. … The Quinary Sector.

What are the 3 types of economic activities?

The three-sector model in economics divides economies into three sectors of activity: extraction of raw materials (primary), manufacturing (secondary), and services (tertiary).

What are the types of economic activities explain?

The three types of economic activities are described below: (i)Primary Activities: Primary activities include all those connected with extraction and production of natural resources. … (ii)Secondary Activities: Activities which are concerned with the processing of natural resources are called secondary activities.