Question

Advantages and disadvantages of tertiary

Answer 1

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Advantages of tertiary based economy

• It can give faster and more flexible adjustment in times of economic crisis or downturns.

• It minimizes environmental degradation from heavy industry

• It allows for faster economic development than that which follows the traditional pattern

• Reduce the material & energy consumption.

• Enhancement of Knowledge.

• More customer oriented product for their satisfaction.

Disadvantages of service based economy

• More dependability on other country for goods.

• Trade deficit is increased because of more import and less export of goods.

• manufacturing jobs have been lost to outsourcing of products

• More skilled employees & workers are required.