How economy is classified on the basis of economic activities?

1.	How economy is classified on the basis of economic activities?
Answer» Answer: Explanation: 1. On the basis of employment conditions, activities in the economy are classified as ORGANISED and unorganized. 2. The organised sector OFFERS job security and employment benefits, while the unorganized sector is MARKED by low WAGES and LACK of job security. Explanation: Organized sectors and unorganized sectors are two classification of an economy based on unemployment condition. 1. Organized sector Based on the organized sectors, regular terms of work covered by enterprises. Work is regular and people are assured about their employment conditions. 2. Unorganized sector Unorganized sectors are such enterprises which are not registered with the government. Units are very scattered and government rules are not imposed on those sectors. Employment is not secured.

Answer»

Answer:

Explanation:

1. On the basis of employment conditions, activities in the economy are classified as ORGANISED and unorganized.

2. The organised sector OFFERS job security and employment benefits, while the unorganized sector is MARKED by low WAGES and LACK of job security.

Organized sectors and unorganized sectors are two classification of an economy based on unemployment condition.

Based on the organized sectors, regular terms of work covered by enterprises. Work is regular and people are assured about their employment conditions.

Unorganized sectors are such enterprises which are not registered with the government. Units are very scattered and government rules are not imposed on those sectors. Employment is not secured.

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