Explain the Changing Nature of Manufacturing and Services in the Developing Countries?

Changing Nature of Manufacturing and Services in the Developed and Developing Countries

Economic activities related with all processing and conversion of raw materials into finished goods come within the domain of the manufacturing sector. Due to globalization, the whole world can be considered as one unit and due to increasing mobility of labour and capital, the political boundaries have lost their significance in regulating trade, and rapid development of transport and communication, traditional locational factors of manufacturing industries are not very important today.

What are Economic Activities? Classification of Economic Activities

What are Economic Activities? Meaning

People working in the primary sector extract resources directly from Earth. People working in the secondary sector convert raw materials into finished goods. All other jobs are included in the tertiary sector. Tertiary sector includes many jobs. All this activties is know as Economic activities.

Classification of Economic Activities

Economic activities of man are generally classified into three sectors: Primary, Secondary and Tertiary.

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