Table of Contents
Which divisions are included in the tertiary sector?
- the market services sector (trade, transports, financial operations, business services, personal services, accommodation and food service activities, real estate, information-communication);
- the non-market sector (public administration, education, human health, social work activities).
How do we divide up the sectors of the economy?
The three-sector model in economics divides economies into three sectors of activity: extraction of raw materials (primary), manufacturing (secondary), and service industries which exist to facilitate the transport, distribution and sale of goods produced in the secondary sector (tertiary).
Who among the following are in tertiary sector?
The tertiary sector includes service industry and it holds the highest importance among all sector. The Tertiary sector of economy involves the provision of services to business as well as final consumers. Services may involve the transport, distribution and sale of goods from producer to consumers.
What are the features of tertiary sector?
Tertiary sectors refer to the service sector. Main features of Tertiary sectors are :
- The sector involves activities that help in the development of the primary and secondary sector.
- The tertiary sector does not produce any kind of goods but they aid and support in the production process.
Which of the following is included in tertiary sector?
Answer: Trade, transport, communication, banking, education, health, tourism, services, insurance etc. are included in the tertiary sector.
How do you divide industries?
Sectors and industries Economic activities can be classified in a variety of ways. At the top level, they are often classified according to the three-sector theory into sectors: primary (extraction and agriculture), secondary (manufacturing), and tertiary (services).
What is called tertiary sector?
The tertiary industry is the segment of the economy that provides services to its consumers, including a wide range of businesses such as financial institutions, schools and restaurants. It is also known as the tertiary sector or service industry/sector.
How is the tertiary sector different from other sectors explain with examples?
The tertiary sector different from other two sectors. This is because other two sectors produce goods but, this sector does not produce goods by itself. These activities are an aid or support for the production process. For example, transport, communication, storage, banking, insurance, trade activities etc.
How does tertiary sector help in development explain?
The tertiary sector helps in the development of the primary and secondary sector by: – Transporting goods produced by primary and secondary sector. – Providing infrastructure for the sale of goods produced by these two sectors. – Offering storing facilities for good produced by primary and secondary sectors.
What is the role of tertiary sector?
Importance of the tertiary sector : the tertiary sector provides basic services like public transportation, medical care, electricity, banking, post office, etc under the control of the govt. the tertiary sector creates a huge area for employment even for uneducated and unskilled workers.