Question

Explain with examples the significance of service sector in modern economic development of the world. (CBSE 2018)

Answer 1

Answer:

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Explanation:

Role of service sector in modern economic development:  

1} Holds the highest share in the country's Net National Product.

2} Promotes Industrialization.

3} Enhances network facilities.

4} Growth of agriculture and production.

5} Increase in the productivity of the goods.

6} Increased trade leading to better market growth.

7} Provides technical education and enhances the quality of service.