Sectors Of The Economy

Tertiary activities refer to the service sector which supports the production and distribution of goods and services. These activities include trade, transport, communication, education, legal services, and more.

• Statement I: Correct – Tertiary activities cover all kinds of services.
• Statement II: Correct – Trade, transport, and communication fall under tertiary activities.
• Statement III: Incorrect – Transforming raw material into finished goods is a secondary sector activity.
• Statement IV: Correct – Teachers, lawyers, and traders provide services and are part of the tertiary sector.

Therefore, statements I, II, and IV are correct, making option (C) the right answer.

The Secondary Sector of the economy involves activities related to manufacturing and industry. This sector takes raw materials from the primary sector and processes them into finished goods or products, such as factories producing textiles, steel, or automobiles.

• Primary Sector: Deals with extraction of natural resources like farming, fishing, mining.
• Tertiary Sector: Provides services like banking, education, and healthcare.
• Quaternary Sector: Involves knowledge-based activities like research and information technology.

Hence, converting raw materials into finished products is a function of the Secondary Sector.