Social infrastructure refers to the main elements of social change which serve as a base for the process of social development of a country. It contributes to economic processes indirectly and from outside the system of production and distribution.
Economics Applications Class 9
The main sectors of the Indian economy are the Services. In the last few decades, the development of the primary and secondary sectors has resulted in the rise of several services which are required for the smooth functioning of these sectors such as banking, transport, and insurance.
An institutional unit that can perform economic activities independently is called an economic entity. Consumers, households, firms, and the government are the four basic entities of an economy because they perform the basic economic activities of production and consumption in an economy.
the Industrial Policy Resolution of 1948. These policy
resolutions divided the economy into public and private sectors. It was based on the assumption that large-scale investment in the public sector, a high level of public investments and public sector investment would encourage the growth and profitability of many private enterprises.
Economic activities of the Indian economy are classified into three broad sectors—the primary sector, the secondary sector and the tertiary sector.
Economics studies the economic behaviour of individuals and organization in society. It also studies individuals and organizations engaged in economic activities concerned with the production, distribution and consumption of goods and services. Hence, Economics is regarded as the queen of all social sciences.