Saved Bookmarks
| 1. |
What are the contrast between production and employment |
| Answer» The total value of goods and Services produced in the country is the indicator of income for the country. The Technical term to denote this value is Gross Domestic Product (GDP).GDP records the market value of all final goods and services produced. The sum of the Production in the three sectors i.e. Agriculture, Industries and Service, gives GDP. It is value of all final goods and services Produced with a country during a particular year.The Industrial sector became the dominant sector and the importance of the agriculture sector both for employment and production declined.In the Past 50 years, there has been a further shift from Industry to service sector for developed countries.According to the census of India, 2011 out of 1.2 billion persons in India, 460 million people are workers i.e. people engaged in some productive activities. | |