Question

explain the importance of service sector

Answer 1

The service sector makes an importantcontribution to GDP in most countries, providing jobs, inputs and public services for the economy. Trade in services can improve economic performance and provide a range of traditional and new export opportunities

Answer 2

The main features of the tertiary sectors are :

(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.