Class 6 Social Science Chapter 14 Notes Economic Activities Around Us
→ Economic activities has increased over the decades enormously.
→ As societies progressed, the number of economic activities through which people earn their livelihoods increased vastly.
→ Today, there are diverse economic activities such as manufacturing computers, mobile phones and drones; working in banks, schools and hotels; driving various types of vehicles for transportation; making furniture; tailoring clothes using machines; creating software; repairing refrigerators and washing machines; etc. Classifying all these activities helps us to understand how they function and the links they have with each other.
→ Some economic activities share similar features and based on this, they can be classified into economic sectors. They are primary, secondary and tertiary economic sectors.
→ In primary activities or primary sector economic activities people are dependent on nature for producing goods. This group of activities involves extraction of raw materials from nature directly such as farming, fishing, forestry, etc.
→ Economic activities in which people are dependent on outputs of the primary sector and transform them to produce goods are known as secondary activities or secondary sector economic activities.
→ The secondary sector includes the construction of buildings, roads, etc., and providing utilities like water, electricity, gas and other such necessities.
→ All those economic activities that provide support to people involved in primary and secondary activities are called tertiary activities or tertiary sector economic activities.
→ This sector is also called the service sector.
→ Communication services through mobile and internet, software development, and services at hotels, restaurants, banks, schools, hospitals, airports, shops, warehouses, etc. are all examples of tertiary sector economic activities. This sector is also called the service sector.
→ The three types of economic activities or economic sectors play an important role in the process of conversion of natural raw materials into finished products for final consumption.
→ Monetary Value : Value of something that can be considered in terms of money.
→ Economic Sectors : Broad groups of various activities that help with the economic prosperity of a country.
→ Primary Sector : The group of activities that involves extraction of raw materials directly from nature such as farming, fishing, forestry, etc.
→ Secondary Sector : The group of activities that involves processing of raw materials derived from primary sector into products for sale or consumption.
→ Teritiary Sector : The group of activities that involves the provision of services which complement both primary and secondary sectors, such as transportation, banking, and management of business.
→ Warehouses : Large buildings used for storing products before they are sold, used or rented out to shops.
→ Dairy : A place where milk is collected and stored.
→ Cooperative : A group of people who voluntarily come together to meet their economic and social needs in a formal way. They own the cooperative and decisions are taken by the members collectively.
→ Middlemen : Persons who buy goods from producers and sell them to consumers. The middlemen charge a fee for this service.
→ Pasteurisation : A process by which rrlllk is preserved through heating to a specific temperature to kill harmful bacteria.
→ Factory : Building or group of buildings where goods are manufactured, or various components are put together, to make a final product.
→ Retail : The sale of goods in small quantities for use by the end consumer rather than for resale.
→ Export : Goods and services that are produced in one country and sold to buyers or consumers in another country.