Which among the following comes under tertiary sector of Indian Econom...
Transport of goods comes under tertiary sector of Indian Economy. The tertiary sector or service sector is the third of the three economic sectors of the three-sector theory. The others are the secondary sector (approximately the same as manufacturing), and the primary sector (raw materials). The tertiary sector of industry involves the provision of services to other businesses as well as final consumers. Services may involve the transport, distribution and sale of goods from producer to a consumer, as may happen in wholesaling and retailing, pest control or entertainment.
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Which among the following comes under tertiary sector of Indian Econom...
Tertiary sector, also known as the service sector, is one of the three sectors of the Indian economy. It primarily involves the provision of services to consumers and businesses. Among the given options, option 'B' - Transport of goods, falls under the tertiary sector of the Indian economy. Let's explore this in detail:
1. What is the tertiary sector?
The tertiary sector is the segment of the economy that provides services to consumers and businesses. It includes a wide range of industries such as transportation, healthcare, education, tourism, banking, insurance, communication, and more. This sector plays a crucial role in the overall development of the economy.
2. Transport of goods:
Transportation of goods is an essential service provided to businesses and individuals. It involves the movement of goods from one place to another, ensuring their timely delivery and safe transportation. This can be done through various modes of transport such as roadways, railways, airways, and waterways.
- Road transport: Trucks, lorries, and other vehicles are used to transport goods by road.
- Railway transport: Goods are transported through trains and railways.
- Airways: Cargo planes are used for transporting goods across different locations.
- Waterways: Ships and boats are used for transporting goods through rivers, canals, and oceans.
3. Importance of transport in the economy:
Transportation of goods is crucial for the functioning of various industries and businesses. It enables the movement of raw materials from suppliers to manufacturers and finished products from manufacturers to consumers. Efficient transportation systems help in reducing costs, improving accessibility, and expanding market reach. It also promotes trade and commerce, stimulates economic growth, and creates employment opportunities.
Conclusion:
Among the given options, the transport of goods comes under the tertiary sector of the Indian economy. This sector plays a significant role in providing essential services to consumers and businesses, contributing to economic growth and development.