discuss any five points of benefits of service sector in business
Answers
Answer:
(i) This sector helps in the development of the primary and secondary sectors.
(ii) The activities related to this sector do not produce key good but they are an aid or a support for the production process.
(iii) It also provides essential services that may not directly help in the production of goods such as services of teachers, doctors, barbers, lawyers, etc.
(iv) In recent times, certain new services based on information technology etc have become more important.
(v) The services which are included in the tertiary sectors are transport, storage, communication, banking, trade, etc.
Answer:
answer is here
Explanation:
KEY TAKEAWAYS
Key Points
The growth of the service sector has long been considered as an indicator of a country’s economic progress.
Services are continually being launched to satisfy our existing needs and to meet needs that we did not even know we had.
Service organizations can vary in size from large corporations to small, locally owned businesses.
Key Terms
primary: The primary sector of the economy is the sector of an economy making direct use of natural resources.
secondary: The secondary sector of the economy or industrial sector includes those economic sectors that create a finished, tangible product, such as production and construction.
Service: Action or work that is produced, then traded, bought or sold, and then finally consumed