The correct option is (c) 2 and 3 only
Explanation
The economy is structurally divided into three main sectors based on the nature of activities: Primary, Secondary, and Tertiary. The Secondary Sector covers activities in which natural products are changed into other forms through ways of manufacturing, often associated with industrial activity.
Statement-wise Analysis
- Statement 1 is Incorrect. Activities related to agriculture, fishing, forestry, and mining involve the direct extraction or utilization of natural resources. These fall under the Primary Sector, not the Secondary Sector.
- Statement 2 is Correct. Within the Secondary Sector, small-scale manufacturing is the most labour-absorbing segment. While large-scale industries are capital-intensive, small-scale industries (SSIs) and MSMEs employ a significant portion of the workforce engaged in industrial activities.
- Statement 3 is Correct. The Secondary Sector is characterized by the processing of raw materials into finished goods. Since this sector gradually became associated with different kinds of industries that came up, it is also called the Industrial Sector.
Key Takeaway: The Primary Sector deals with raw material extraction (agriculture, mining), while the Secondary Sector deals with processing and manufacturing (industries). The Tertiary Sector provides services that support the production process.