Economic activity

Economic activity and evaluation of economic activity

1. Concept and Classification of Economic Activities

2. Concept of economic activities Economic activity is a processes, that involves production, exchange and consumption of resources. Economic activities exist at all levels within a society, it is a part of society Social activity and economic activity are interconnected. Nature of economic activity changes over time within a society Example: Agricultural activity, Industries, trade and commerce

3. Evolution of human society Human group Geological period Activities Egyptopithecus Oligocene Ancestor of Ape, Lived in forest Dryopithecus Miocene Ramapithecus Miocene Ancestor of human, Food collected form forest Australopithecus Pliocene Food gatherer mainly Fruits, leaves etc. Homo Hebilis Pleistocene Food gatherer and Palaeolithic period Homo Erectus Pleistocene Hunt animals and used weapons made of stone Neanderthal Pleistocene Homo sapiens Holocene Modern human, modern human civilization started from here. Domestication of plant and animal

4. Evolution of modern human society

5. Nature of Economic activities Evolving over time Ex.- Hunter and Gatherer > Domestication of plant and animal > Industries Increasing utility of resources Develop a interconnection between nature and human society Main aim is human development

6. Classification of Economic activities

7. Classification of Economic activities Primary activities Hunting, Food gathering, Domestication of plant and animal, Agriculture, Fishing, Plant harvesting, Livestock farming, Mineral extraction from earth crust (Mining), etc. Domestication of plant and animal is the starting of primary activity It is very nature centric and land centric activity First activity of every human society Primary producers be labelled by Red Colour Worker

8. Secondary activity Secondary activity increase the value of commodities by changing their forms (Manufacturing) Manufacturing industries and Commercial agriculture Maximum energy resources use in this sector Called Blue Colour Worker Tertiary activity Tertiary activity involve the service sector rather then the tangible good Develop interconnection between different sectors Manly service activity- Trade and commerce, banking, transport, services etc.

9. Quaternary activity Quaternary activity mainly service base activity, it represent special type of service work ,like- administrative and professional services. All quaternary activity occurs in office building environments. This group white colour work force Quinary Activity High-level managerial and executive administrative positions (public and private) Scientific research and development services, Consultant Quinary workers are called Think tank

10. Evaluation of economic activity over time Evaluation of economic activity