A key feature of a cooperative like AMUL is its collective ownership and democratic governance structure, where members—typically farmers—have an equal say in decision-making processes. This cooperative model empowers farmers by allowing them to pool resources, share profits, and participate ...
Tiwari Academy Discussion Latest Questions
The secondary sector depends on the primary sector for its raw materials, which are essential for manufacturing and processing activities. For instance, industries in the secondary sector rely on resources such as agricultural products, minerals, and timber sourced from the ...
In the dairy cooperative example, the tertiary sector plays a vital role by providing essential services that support the entire dairy supply chain. This includes activities such as transportation, marketing, and distribution of dairy products like milk, cheese, and butter. ...
The transformation of wood into paper belongs to the secondary sector of the economy. This sector involves the processing and manufacturing of raw materials into finished goods. In this case, wood, which is a raw material from the primary sector ...
An example of value addition provided in the chapter could involve the process of turning raw materials into finished products, such as converting raw wheat into flour or producing garments from cotton. In these examples, each step of processing adds ...
When asked which of these is NOT a part of economic activities, the focus is on identifying activities that do not involve earning money or generating financial gain. Non-economic activities, such as volunteering, caregiving, or hobbies, fall into this category ...
The term monetary value refers to the worth of a good or service expressed in terms of currency. It quantifies the amount of money that is required to purchase a particular item or service, reflecting its economic value in the ...
An example of an activity that is NOT a secondary sector activity is agriculture. The secondary sector focuses on manufacturing and processing raw materials into finished goods, such as transforming steel into cars or wood into furniture. In contrast, agriculture ...
The AMUL cooperative brought a major change to farmers by establishing a model of dairy farming that empowered them through collective ownership and direct access to markets. This cooperative structure allowed farmers to pool their resources, ensuring fair prices for ...
The primary, secondary, and tertiary sectors are interconnected in a cyclical economic system where each sector relies on the others to function effectively. The primary sector provides raw materials, such as crops, minerals, and timber, which are essential for the ...