Question

why is the tertiary sector of industry becoming more important in most economies?

Answer 1

The reasons why this sector is gaining importance can be summed up in following points:

1. The need for tertiary is increasing as there is more need of services like financial institutions, educational institutions etc. in Indian economy.

2. The tertiary sector accounts for most of the national and per capita income of India.

3. The tertiary sector created huge employment even for the uneducated and unskilled workers.

4. The tertiary sector is responsible to distribute its services and goods to different consumers.

Answer 2

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• In any country several services such as hospitals, school etc are required. These can be considered as basic services. In a developing country the government has to take rest for the provision of these services.

• The development of primary and secondary sector leads to the development of tertiary sector.

• As income level rises, people start demanding many more services.

• Services such as it have became important and essential. The production of these services has been rising rapidly.

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