Question

why services been given an independent status as a production sector in the economy ? given reason​

Answer 1

Answer:

The service sector is an important component of any country‟s economy. ... For example, India has been capitalising on a boom in exports of IT enabled services as firms ... Given that much trade in services is brought about through foreign direct ... competition is limited by the natural monopoly characteristics of production;.

Explanation:

Answer 2

Explanation:

Tertiary sector has become important in India because :

(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.

I HOPE IT'S HELP YOU ✌️