Table of Contents
- 1 Why is tertiary sector more important than primary sector?
- 2 Why is tertiary sector important to the economy?
- 3 What is tertiary sector becoming more important than other sectors?
- 4 Which part of tertiary sector is growing in importance?
- 5 Why is the tertiary sector important to the UK economy?
- 6 Why has tertiary sector increased?
- 7 What is the tertiary sector in economics?
- 8 Why is the tertiary sector gaining importance in India?
Why is tertiary sector more important than primary sector?
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.
Why is tertiary sector important to the economy?
Since the early 1990s, economic growth has been driven mainly by the tertiary sector – which includes wholesale and retail trade, tourism and communications. Now South Africa is moving towards becoming a knowledge-based economy, with a greater focus on technology, e-commerce and financial and other services.
Why is tertiary sector valuable to the economy and to the other two sectors?
Instead, the tertiary sector activities help in the development of the primary and secondary sectors. These activities are an aid or support for the production process, e.g., transport, communication, storage, banking, insurance, trade activities etc. For this reason this sector is also known as service sector.
What is tertiary sector becoming more important than other sectors?
(i) Basic services like hospitals, education, post and telegraph, courts etc. are the responsibility of the government. (ii) Demand for services such as transport, trade, storage has increased with the development of primary and secondary sectors.
Which part of tertiary sector is growing in importance?
Services which employ highly skilled and educated workers have grown in importance. Growth in the healthcare sector, administrative services have boosted the growth in the tertiary sector.
Why the tertiary sector has increased?
Tertiary sector is growing rapidly because: (i) India’s economy is growing fast. Several services like hospital, educational institutions,post, telegraph, police, courts, municipality, transport, banks, insurance etc are needed.
Why is the tertiary sector important to the UK economy?
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.
Why has tertiary sector increased?
Is the most important sector in the primary sector?
Primary sector is the most important sector of Indian economy.As the methods of farming changed and agriculture sector began to prosper,it produced much more food than before . More than half of the workers in the country are working in the primary sector mainly in agriculture , producing a quarter of GDP.
What is the tertiary sector in economics?
The tertiary sector of the economy, generally known as the service sector, is the third of the three economic sectors of the three-sector theory, (also known as the economic cycle). The tertiary sector of industry involves the provision of services to other businesses as well as final consumers.
Why is the tertiary sector gaining importance in India?
Why is tertiary sector gaining importance in India? Explain the reasons.