Economic activities are classified on the basis of which of the following?

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Nature of activities

Ownership of resources

Organisation of activities

All of the above

answer is D.

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Detailed Solution

Economic activities can be classified on several bases:
1)      Nature of activities: Activities are classified into primary, secondary, and tertiary sectors. Activities related to agriculture and associated with exploiting natural resources are grouped in the primary sector. Manufacturing-related activities come under the secondary sector, and all the services are called the tertiary sector.
2)      Ownership of resources: If an industrial organisation is owned and controlled by the government, it is a public sector enterprise, while if private entities operate it, it is grouped under the private sector.
3)      The organisation of activities: On this basis, activities are grouped either in the organised or unorganised sectors.

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