The service sector has the dual nature in employment generation.
Explain with examples.
Answers
Answer:
The service sector produces intangible goods, more precisely services instead of goods, and according to the U.S. Census Bureau, it comprises various service industries including warehousing and transportation services; information services; securities and other investment services; professional services; waste management; health care and social assistance; and arts, entertainment, and recreation. Countries with economies centered around the service sector are considered more advanced than industrial or agricultural economies.
Understanding Service Sector
The service sector, also known as the tertiary sector, is the third tier in the three sector economy. Instead of the product production, this sector produces services maintenance and repairs, training, or consulting. Examples of service sector jobs include housekeeping, tours, nursing, and teaching. By contrast, individuals employed in the industrial or manufacturing sectors produce tangible goods, such as cars, clothes, or equipment.
According to the CIA World Factbook, the following countries are the largest by service or tertiary output as of 2018:
United States: $15.5 trillion
China: $6.2 trillion
Japan: $3.4 trillion
Germany: $2.5 trillion
United Kingdom: $2.1 trillion
France: $2.0 trillion
Brazil: $1.5 trillion
India: $1.5 trillion
Italy: $1.4 trillion
Canada: $1.2 trillion
Answer:
Sectors of the Indian Economy
Introduction to the Sectors of Indian Economy
India is one of the largest, if not the largest economy in the world. It is predicted to be the second largest economy in the world by 2050. So, what contributes to the Indian economy? To answer this, we need to divide India’s economy into three parts and study the sectors of Indian economy in detail. We will also discuss the problems faced by each sector and solutions to these sectors respectively.
Explanation:
Mark me as brainliest
Thank you