Question

In: Economics

In what ways are the agricultural and industrial sectors of an economy complementary to one another

In what ways are the agricultural and industrial sectors of an economy complementary to one another

Solutions

Expert Solution

ndustrial sector provides the basic inputs to the agricultural sector such as tractor, harvesting machines, fertilisers are a few basic inputs that are used by the agricultural sector.
Wheras agriculture provides basic raw material to the industrial sector, e.g., cotton,sugarcane.


The industrial sector provides employment to the excess labour (disguised unemployees) in the agricultural sector.
Agricultural sector provides labour to the industrial sector.
Agricultural sector provides market to the industrial sector.


It means that the people engaged in agriculture consume the products produced by the industries.
For example tooth paste, soap washing powder etc.
Agricultural sector feeds the industrial labourers, which keeps them healthy, and thereby makes them more productive.

The agro-based industries have given a major boost to agriculture by raising its productivity.

The industrial sector provides employment to the excess labour (labours who are actually disguised unemployed) in the agriculture sector

The support that agriculture provides to the industries is the wage goods (food grains).
Both the agricultural and industrial sector are mutually dependent on each other.
In case of good harvest, the farmers have high incomes, which they use to demand more industrial goods.
For example, during good harvests, many farmers buy new elctronic goods, clothes, etc.
Similarly, when the people engaged in the industrial sector experience good income, they demand higher quantities of food grains.

Both for consumer and capital goods Industries agriculture sector gives a ready market for the finished products. Agricultural sector itself is a huge market for the different finished products of Industries. Farmers buy several industrial products like bi-cycle, torch, radio etc. All these flourishment of industries.

Thus in nutshell, we can say that bath agricultural and industry are complementary to each other. The operate hand to hand. The development of one sector depends on the growth and performance of the other sector.


Related Solutions

Textile sectors is one of the biggest sectors of Pakistan’s economy. Explain the complementary role of...
Textile sectors is one of the biggest sectors of Pakistan’s economy. Explain the complementary role of productivity and wastivity in effective utilization of resources in textile sector of Pakistan. Discuss the social issue involved in operation management in textile sector of Pakistan?
1. Discuss the health and safety concerns across sectors (Focus sectors should include Agricultural sector, Industrial...
1. Discuss the health and safety concerns across sectors (Focus sectors should include Agricultural sector, Industrial sector, and the service sector).
Give an account of some major marine biotechnology contributions to health, agricultural and industrial sectors (15...
Give an account of some major marine biotechnology contributions to health, agricultural and industrial sectors
America’s Industrial Revolution transformed all sectors of the economy and changed society. some of the business...
America’s Industrial Revolution transformed all sectors of the economy and changed society. some of the business practices of the late 1800s and early 1900s are described. There are pros and cons to these developments. On the one hand, they streamlined costs and made goods and new products available to many more consumers. But, there were also consequences—some unintended. Choose one of these two new problems introduced by the American Industrial Revolution. The development of monopolies instead of a competitive business...
What is meant by the “blurring” of the sectors? In what ways does this occur? Please...
What is meant by the “blurring” of the sectors? In what ways does this occur? Please cite your sources.
The ways we communicate digitally with one another are constantly evolving.
The ways we communicate digitally with one another are constantly evolving. Search for information online about the recent trends (that is, in the last year) in digital communication and digital marketing. (You are highly encouraged to read more than just the module manual for this question) Write a blog post about five of the trends that you find. For each trend: • Explain what the trend is . • Provide an example . Remember to reference your (recent) sources.
Question: Which sectors of the economy are the worst hit by Corona Pandemic and which sectors...
Question: Which sectors of the economy are the worst hit by Corona Pandemic and which sectors may have benefited from the Corona Pandemic? Take one or more countries as examples for your answer. Support your findings with data and analysis as much as possible. Clearly mention the country name(s). Direction: Please answer the question in detail. Support your answer with data and references as much as possible. Do not copy and paste. Write in your own words and provide references...
Which sectors of the economy are the worst hit by Corona Pandemic and which sectors may...
Which sectors of the economy are the worst hit by Corona Pandemic and which sectors may have benefited from the Corona Pandemic? Take one or more countries as examples for your answer. Support your findings with data and analysis as much as possible. Clearly mention the country name(s). Direction: Please answer the question in detail. Support your answer with data and references as much as possible. Do not copy and paste. Write in your own words and provide references wherever...
Question: Which sectors of the economy are the worst hit by Corona Pandemic and which sectors...
Question: Which sectors of the economy are the worst hit by Corona Pandemic and which sectors may have benefited from the Corona Pandemic? Take one or more countries as examples for your answer. Support your findings with data and analysis as much as possible. Clearly mention the country name(s). Please answer the question in detail. Support your answer with data and references as much as possible. provide references wherever applicable. Use economic terminologies as much as possible.
Explain how financial assets will be allocated? What sectors of the economy will be chosen and...
Explain how financial assets will be allocated? What sectors of the economy will be chosen and excluded?
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT