Question

Life insurance is an activity of the a primary sector b Service sector c secondary sector d none of these​

Answer 1

Answer:

B :Service sector

Explanation:

Life Insurance is an activity of Service Sector

Answer 2

Life insurance is an activity of the (b)service sector.

Definition of Service Sector

The service sector is the tier 3 sector in which there is a production of services rather than manufacturing products.

Examples of Service Sector

1. Banking services: The banks provide services such as the lending of loans, the opening of savings accounts etc.
2. Educational Institutions: The educational institutions provide education to the children, thereby making them useful to the economy.
3. Insurance agencies: These agencies provide services such as insurance, and health benefits in times of need.

The service sector is the most important sector and contributes most to the economy of a country.