Question

Write difference between : 

Rural Economy and Urban Economy

Answer 1

Rural economy	Urban economy
(i) Occupation: The main occupation of the rural community is agriculture which is in a state of backwardness.	(i) Occupation: The occupation in urban areas is mainly nonagricultural, i.e. based on manufacturing, trade and commerce, professional and governance, services, etc.
(ii) Technology: Rural economy is dependent on the use of plough, animal power, seeds, fertilizers for agricultural activities.	(ii) Technology: The urban economy is dependent on advanced technology and upto-date machinery for economic activities.
(iii) Division of Labour: There is less scope for division of labour and specializations in rural communities.	(iii) Division of Labour: Occupations are more specialized and based on the division of labour.
(iv) Markets: Rural weekly market is the main economic institution as rural economy is associated with various crafts like pottery, carpentry, etc.	(iv) Markets: Marketisation is an essential feature of urban centers today – E-marketing, E-biz, etc.
(v) Nature of Employment: Unemployment such as educated, total unemployment seasonal unemployment, underemployment are found in the rural community.	(v) Nature of Employment: All types of unemployment like literate, illiterate, skilled unemployment, unskilled unemployment are found in cities.
(vi) Dependence on Nature: Rural economy depends upon natural factors like a monsoon for agriculture.	(vi) Dependence on Nature: The problem of unemployment has intensified other problems like poverty, malnutrition, beggary, prostitution, etc.

Comments

Thank you so much @Taruni Kumari...this answer has helped me a lot!