SS1: ECONOMICS - 2ND TERM
Firms & Industry | Week 14 Topics
Firms & Industry (Business Organisation) | Week 25 Topics|1 Quiz
Population Theory I | Week 33 Topics
Population Theory II | Week 43 Topics
Population | Week 53 Topics
Population Distribution | Week 64 Topics
Population Census | Week 73 Topics|1 Quiz
Labour Market | Week 83 Topics|1 Quiz
The Nature of the Nigerian Economy | Week 94 Topics|1 Quiz
Agriculture | Week 104 Topics|1 Quiz
Contribution of Primary, Secondary & Tertiary Sector
Classification of Industries in Nigeria:
1. Primary Sector.
2. Secondary Sector.
3. Tertiary Sector.
1. Primary Sector: The primary sector of the economy includes industries concerned with the extraction and production of raw materials, such as mining, farming, logging, fishing, forestry and livestock production. This sector makes up a larger portion of the economy in developing countries than it does in developed countries.
2. Secondary Sector: The secondary sector is concerned with the production of finished goods. Raw materials are converted into consumable or finished goods. e.g. construction, food processing, oil refining, building, chemical industries, etc.
3. Tertiary Sector: The tertiary sector is concerned with the rendering of services. This includes indirect services like policemen, soldiers, customs, etc, and direct services like teaching, banking, security, transportation, etc.
Contribution of Primary, Secondary & Tertiary Sector:
1. The primary sector contributes to the increase in the GDP of the country.
2. The primary sector is the pathway to a successful secondary sector.
3. The secondary sector enables the country to be involved in the processing of goods.
4. The tertiary sector which is the service sector of the country provides essential public services to the country.
5. The three sectors provide economic stability in the country.
6. Under the tertiary sector as a result of an increase in trade, distribution and transportation services are now in higher demand.
7. The three sectors increase the employment opportunity for the country.
Highlight the various contributions of the sectors in Nigeria.View Answer