Question: Why Is Tertiary Industry Important?

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

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

in Indian economy.

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

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.

Which area is affected the most by the development of tertiary sector?

Urban areaUrban area Explanation: Demand of services like eating out, tourism, shopping, private hospitals, schools, etc. These things are mostly demanded by the big cities. Thus it is the urban area which is affected most by the development of tertiary sector. 4.

What do you mean by tertiary sector?

The tertiary sector covers a wide range of activities from commerce to administration, transport, financial and real estate activities, business and personal services, education, health and social work. … the non-market sector (public administration, education, human health, social work activities).

How does tertiary sector contribute to the economy?

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. Spare labour to be able to work in the more labour intensive tertiary sector.

What are the main components of tertiary sector?

What are the main components of tertiary sectorGovernment service.Education service.Health service. Entertainment service.Hotels and Restaurants.Retail. This conversation is already closed by Expert.Sep 22, 2016

What is the importance of tertiary industry?

2 Answers. i) The tertiary sector provides the basic services like public transportation, medical car, electricity ,banking, post office etc under the control of the govt. ii) The tertiary sector creates an huge area for employment even for uneducated and unskilled workers.

What are examples of tertiary industries?

Examples of tertiary industries may include:Telecommunication.Hospitality industry/tourism.Mass media.Healthcare/hospitals.Public health.Pharmacy.Information technology.Waste disposal.More items…

Why India move from primary to tertiary sector?

The Reason behind its direct shift are as follows: Globalisation and Liberalisation: Both the term influenced India almost at the same time, which created a base to grow service sector. The globalization opened the shifting of service sector job while liberalization opened the country’s market by increased investment.

What is tertiary sector give example?

Tertiary activity consists of all service occupations. Transport, communication, trade, health, education and administration are important examples of tertiary activities. These tertiary activities help in the development of the primary and secondary sectors.

What are the features of tertiary sector?

Explain any five features of tertiary sectorTertiary activities provide support to the primary and secondary sectors through services. … It do not produce goods while other two sectors perform production.tertiary sector includes new services based on information technology but other two sectors do not.It act as aid or help for production process.Oct 15, 2016

How does tertiary sector help in development?

Answer. Answer: After primary and secondary sectors, there is a third sector called the service sector also known as tertiary sector. … Since these activities generate services rather than goods, they promote primary and secondary sectors by providing expertise, finance, transportation, advertisement.

What are examples of secondary industries?

Some examples of secondary industries are textile production, steel production, oil refining, food processing, aerospace manufacturing and consumer electronics. The automotive, brewing, energy, tobacco, ship-making and chemical industries are also secondary.

How does tertiary sector help in the development of primary and secondary sector?

After primary and secondary sectors there is a third sector called the service sector also known as tertiary sector. … Since these activities generate services rather than goods they promote primary and secondary sectors by providing expertise finance transportation advertisement etc.

Is the tertiary sector playing a significant role in the development of Indian economy explain?

Answer: “Tertiary sector is not playing any significant role in the development of the Indian economy”.

Which one of the following is an example of tertiary sector?

Tertiary sector is also known as service sector since it deals with all types of services. For example, trade, banking and insurance- all are included in the service sector.

Which part of tertiary sector is growing in importance and which is less productive?

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. But the lower end of the tertiary sector which employs less skilled and lower educated personnel have been less productive.

Why the importance of tertiary sector in production is rising rapidly?

Answer:it has increased because the basic services like banks, hospitals, education institution and transport are provided. Demand of transportation, trade also increases with development of secondary and primary sector. Demand of shopping , tourism , private school also increases with increases of level of income.