Question

Give five reasons for the rising importance of tirtiary sectors in production.

Answer 1

(i) Basic services like hospitals, education, post and telegraph, courts, etc. are the responsibility of the government in developing countries.

(ii) Demand for services such as transport, trade, storage will increase with the development of primary and secondary sectors.

(iii) Demand for tourism, shopping, private schools, private hospitals, etc. increases with the increase in the level of income.

(iv) Rapid growth of services sector also benefitted from external demand such as software industry and call centre services.

(v) Liberalisation of financial sector provided an environment for faster growth of financial services.

Answer 2

1)Tertiary sector composes almost 50% of indian economy.
2)this sector accounts for most of the national &PCI.
3)it creates huge employment even for the uneducated and unskilled workers.
4)it is responsible to distribute it's services and goods to different consumers.
5)the need for tertiary is increasing as there is more need of services like, financial institutions, educational institutions etc. in economy.

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