Choose if the given statement is True/False.

On the basis of employment conditions, activities in the economy are classified into organized and Unorganized sectors.

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True

False

answer is A.

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Detailed Solution

The given statement is True.
Based on employment conditions, activities in the economy are classified into organized and Unorganized sectors. The organized sector includes those firms/workplaces where the workers enjoy regular employment, good working conditions, fixed working hours, better wages, and paid leaves. On the other hand, the Unorganized sector includes those places of work where the workers have irregular employment, poor working conditions, long working hours, fewer wages, and unpaid leaves. Most workers in the former enjoy job security, while the workers in the latter do not have any job security. Organized sector firms provide better facilities than Unorganized sector firms because they follow the rules and regulations of the government.

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