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Chap2 : Sectors of the Indian Economy - part 2
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This lesson explains the concept of how do we compare the three sectors and introduces the concept of GDP.

Arpita Prakash
YouTuber NCERTs series initiator at Unacademy 'Educator of the Month' for Feb'19 CBSE 0.1% Merit Certificate holder in Mathematics

Comments
(64)
Unacademy user
tenk u so much sir.😊
Talvir Singh
8 months ago
thanku so much ☺️
Thank you for the lesson Ms. Prakash. Your efforts are highly appreciated. I have a doubt here if you could kindly guide me. A farmer sells his wheat to a biscuit mfg. company. The biscuit mfg. company produces biscuits out of it. Now, what will we consider for calculating the GDP, both the biscuits mfd. by the company and the wheat sold by the farmer or just the biscuit mfd. by the company? Please give reason for your answer. Thank you.
Arpita Prakash
10 months ago
just the value of biscuits...as it already includes the cost of wheat
Prerak Vaishnav
10 months ago
So then we don't consider the total wheat (or any food grain for that matter) for the calculation of GDP. Do we?
Sonam saini
4 days ago
no ,bcoz GDP is value of all final goods and services produce within a country here is imp.( final goods n service )
Thank you very much for giving such a wonderful basic idea about all the ncert books Thank you mam for made these basic courses for us
very helping nd to the points notes ma'am
Thank you for your contribution of important time. Ma'am I seek some help from you as I couldn't clear a doubt. The thing is , if a farmer sells wheat to consumers and it is getting consumed that mean farmer will get remuneration,also making contribution to GDP from primary sector. But if the wheat is sold to some manufacturering company ( biscuit etc.) here although the farmer contribute to country's economy by producing but contribution of that company included in GDP. if things are like this , primary sector never can contribute more as people buy much lesser amount of wheat,rice etc. So, don't you think acc. to this definition of GDP though we don't recount a price of things getting consumed in the way to make a final product but is it justified due to changing ratio of contribution of all three sectors to GDP. thank you.
Thank you for your contribution of important time. Ma'am I seek some help from you as I couldn't clear a doubt. The thing is , if a farmer sells wheat to consumers and it is getting consumed that mean farmer will get remuneration,also making contribution to GDP from primary sector. But if the wheat is sold to some manufacturering company ( biscuit etc.) here although the farmer contribute to country's economy by producing but contribution of that company included in GDP. if things are like this , primary sector never can contribute more as people buy much lesser amount of wheat,rice etc. So, don't you think acc. to this definition of GDP though we don't recount a price of things getting consumed in the way to make a final product but is it justified due to changing ratio of contribution of all three sectors to GDP. thank you.
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