What is sectoral composition of an economy? Is it necessary that the service sector should contribute maximum to GDP of an economy? Comment.
Answers
Answered by
20
The sectoral composition of an economy is the contribution of different sectors to total GPD of an economy during a year.that is , the share of agricultural sector,industrial sector and service sector in GPD.
yes ,it is necessary that at the later stages of development,service sector should contribute the maximum to the total GPD. this phenomenon is called sructural transformation. this that gradually the country's dependence on the agricultural sector will shift from the maximum to minimum and , at the same time , the shara of industrial and service sector in the total GPD will increase.
yes ,it is necessary that at the later stages of development,service sector should contribute the maximum to the total GPD. this phenomenon is called sructural transformation. this that gradually the country's dependence on the agricultural sector will shift from the maximum to minimum and , at the same time , the shara of industrial and service sector in the total GPD will increase.
Similar questions