Mention if the given statement is true or false:

Based on the nature of activities, economic activities are classified into primary, secondary, and tertiary.

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True

False

answer is A.

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Detailed Solution

The given statement is true.
Economic activities are classified into primary, secondary, and tertiary based on their nature. The primary sector activities consist of extraction and the usage of natural resources. It is also known as the "agricultural and allied services sector." The secondary sector deals with manufacturing activities. The tertiary industry is involved in the provision of services. It is also known as the "service sector." Its services include health, education, public administration, and communication services. The classification of economic activities based on their nature helps the government to frame policies accordingly.

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