Table of Contents
- 1 Why do most people work in the tertiary sector?
- 2 What are the major factors responsible for the high growth of service sector in the reform period?
- 3 What are the main reasons for the growing share of the service sector in major economies of the world?
- 4 What are the reason for growth of service sector in India?
- 5 What makes up most of South Africa’s economy?
- 6 What contributes most to South Africa’s GDP?
- 7 What are the major factors responsible for high growth of the service sector in India after implementation of new economic policy 1991?
- 8 What are the reasons for growth of the tertiary sector?
- 9 What is the difference between tertiary and quaternary sectors?
- 10 What are the factors that contribute to tertiarisation?
Why do most people work in the tertiary sector?
The tertiary sector is the main growth area. Most people work in hospitals, schools, offices and financial services. Also, as people have more free time and become wealthier there is a greater demand for leisure services. Therefore more jobs become available in the tertiary sector.
What are the major factors responsible for the high growth of service sector in the reform period?
Increased volume of trade: Low tariff and non-tariff barriers on imports by India are also responsible for high growth rate of service sector. The foreign trade reforms enabled the domestic products to interact and compete in the international markets.
Which one is the reason behind the growth of services?
Main reasons behind the growth of services include rapid urbanization, the expansion of the public sector and increased demand for intermediate and final consumer services. Access to efficient services has become crucial for the productivity and competitiveness of the entire economy.
Some of the major reasons for the growth of service economy are as follows: (a) The Lag in Growth in Labour Productivity in Services (b) The Growth in Intermediate Demand from Firms (c) The Growth in Final Demand from Consumers.
What are the reason for growth of service sector in India?
What are the main reasons for the growing share of the service sector?
Reasons for growth of service sector
- Reasons For Growth Of Services The growth of service industries can be traced to the economic development of society and the socio-cultural changes that have accompanied it.
- Economic affluence One, of the key factors for the growth of demand for services is the economic affluence .
What makes up most of South Africa’s economy?
Agriculture, forestry, and fishing Agriculture is of major importance to South Africa. It produces a significant portion of exports and contributes greatly to the domestic economy, especially as an employer, though land and water resources are generally poor.
What contributes most to South Africa’s GDP?
In 2020, agriculture had contributed around 2.4 percent to the GDP of South Africa, whereas industry and services had contributed 25.2 and 61.45 percent of the total value added, respectively.
What are the reasons for growth of service marketing in India?
Causes Leading to Service Boom in India:
- Economic Prosperity.
- Development of Agriculture Sector.
- Changing Role of Women.
- Cultural Transformation.
- Revolution in Information Technology.
- Emphasis on Conservation of Natural Resources.
- Improvement of Marketing System.
- Emphasis on Consumer Satisfaction.
What are the major factors responsible for high growth of the service sector in India after implementation of new economic policy 1991?
Liberalisation and economic reforms: The growth of Indian service sector is also attributable to the liberalisation and various economic reforms that were initiated in 1991. This led to huge inflow of foreign capital, foreign direct investments and outsourcing to India. This encouraged the service sector growth.
What are the reasons for growth of the tertiary sector?
Reasons for growth of the tertiary sector. 1. Improved labour productivity. A key factor behind tertiarisation is improved labour productivity. Better technology and improved labour productivity have enabled a higher output of manufactured goods and agriculture with less labour.
What are the advantages of tertiarisation in service sector?
A growing service sector is usually a sign of increased living standards – it enables consumers to enjoy more leisure based service activities, such as tourism, sport and restaurants. 1. Improved labour productivity. A key factor behind tertiarisation is improved labour productivity.
What is the difference between tertiary and quaternary sectors?
These two sectors are closely linked with the services of the tertiary sector, which is why they can also be grouped into this branch. The fourth sector of the economy, the quaternary sector, consists of intellectual activities often associated with technological innovation. It is sometimes called the knowledge economy.
What are the factors that contribute to tertiarisation?
1. Improved labour productivity. A key factor behind tertiarisation is improved labour productivity. Better technology and improved labour productivity have enabled a higher output of manufactured goods and agriculture with less labour. This increased productivity has led to: Increased incomes of workers to spend on services.