Question

Define service sector. Give 4 reasons for rising importance of Service sector in production over past 40years.

Answer 1

The Sector where we get our job and get money the sector is called service sector because of problems of employment in past 40 year it was raised
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Answer 2

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The service sector is the third of the three economic sectors of the three-sector theory. The others are the secondary sector, and the primary sector. The service sector consists of the production of services instead of end products. Services include attention, advice, access, experience, and affective labor.

The industrial composition of the INDIAN economy has undergone significant changes over time as new industries emerge and others evolve or diminish in importance. Changing demand for new products and services, technological advancements and international trade all have led to a current economy that looks different from decades ago. Part of this evolution is characterized by the rise of service-providing sectors over the last 40 years and growth in their share of economic output and employment.

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