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The share of the tertiary sector to the GDP has increased but the contribution of which sector to employment is the highest at present?
  • a)
    Secondary
  • b)
    Industry
  • c)
    Information technology
  • d)
    Primary
Correct answer is option 'D'. Can you explain this answer?
Verified Answer
The share of the tertiary sector to the GDP has increased but the con...
Key-Points
  • The share of the tertiary sector to the GDP has increased but the contribution of Primary to employment is the highest at present.
  • The services sector is the largest sector in India.
  • This sector is also known as the tertiary sector of the economy.
  • The industrial sector is in the second spot.
  • The agriculture sector is in the third spot.
Additional Information
  • Agriculture & Allied Sector:
    • This sector includes forestry and fishing also.
    • This sector is also known as the primary sector of the economy.
    • At the time of Indian independence, this sector had the biggest share in the Gross Domestic Product of India. But year by year its contribution goes on declining.
  • Industry Sector:
    • This sector includes 'Mining & quarrying', Manufacturing (Registered & Unregistered), Gas, Electricity, Construction, and Water supply.
    • This is also known as the secondary sector of the economy.
  • Services Sector:
    • ​The services sector includes 'Financial, real estate & professional services, Public Administration, defence and other services, trade, hotels, transport, communication and services related to broadcasting.
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Most Upvoted Answer
The share of the tertiary sector to the GDP has increased but the con...
The correct answer is option 'D' - Primary sector.

Explanation:
The primary sector refers to the sector of the economy that involves the extraction and production of natural resources, such as agriculture, mining, fishing, and forestry. The tertiary sector refers to the sector that provides services to the consumers, such as retail, banking, healthcare, education, and tourism.

The share of the tertiary sector to the GDP has increased over time due to economic development and the shift towards a more services-oriented economy. This is a common trend observed in many developed and developing countries. As a country progresses and its economy becomes more advanced, the share of the tertiary sector in the GDP tends to increase.

On the other hand, the contribution of the primary sector to employment is still the highest at present. This is because the primary sector is labor-intensive and requires a large workforce for activities such as farming, mining, and fishing. In developing countries, where agriculture is still a significant source of livelihood for a majority of the population, the primary sector continues to be the largest employer.

Even though the share of the tertiary sector in the GDP has increased, it is important to note that the primary sector still plays a crucial role in providing employment opportunities and supporting the livelihoods of a significant portion of the population. The primary sector is also important for ensuring food security and meeting the basic needs of the population.

In conclusion, while the share of the tertiary sector in the GDP has increased, the primary sector continues to provide the highest contribution to employment at present. It is important for policymakers to recognize the significance of the primary sector in terms of employment generation and ensure that appropriate policies and support are provided to promote the growth and development of this sector.
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Passage 2After the end of World War II, a pervasive, but unfortunately fallacious, economic perspective took hold. Based on the United States successful emergence from the Depression, the idea that war was good for an economy became fashionable. However, linking the United States economic recovery with its entry into World War II is a prime example offlawed economic thinking.Supporters of the war benefits economy theory hold that a country at war is a country with a booming economy. Industry must produce weapons, supplies, food, and clothing for the troops. The increased production necessitates the hiring of more people, reducing unemployment. More employment means more money in the pockets of citizens, who are then likely to go out and spend that money, helping the retail sector of the economy. Retail shops experience an increase in business and may need to hire more workers, further reducing unemployment and adding to the economic momentum. While this scenario sounds good in theory, it does not accurately represent what truly happens in a war time economy.In reality, the government can fund a war in a combination of three ways. It can raise taxes, cut spending on other areas, or increase the national debt. Each of these strategies has a negative impact on the economy. An increase in taxes takes money out of an individuals hands, leading to a reduction in consumer spending.Clearly, there is no net benefit to the economy in that case. Cutting spending in other areas has its costs as well, even if they are not as obvious.Any reduction in government spending means the imposition of a greater burden on the benefactors of that government spending. Cutbacks in a particular program mean that the people who normally depend on that program now must spend more of their money to make up for the government cuts. This also takes money out of consumers hands and leaves the economy depressed. Of course, a government could go into debt during the war, but such a strategy simply means that at some point in the future, taxes must be increased or spending decreased. Plus, the interest on the debt must be paid as well.Q. The second paragraph of the passage performs which of the following functions?

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Passage 2After the end of World War II, a pervasive, but unfortunately fallacious, economic perspective took hold. Based on the United States successful emergence from the Depression, the idea that war was good for an economy became fashionable. However, linking the United States economic recovery with its entry into World War II is a prime example offlawed economic thinking.Supporters of the war benefits economy theory hold that a country at war is a country with a booming economy. Industry must produce weapons, supplies, food, and clothing for the troops. The increased production necessitates the hiring of more people, reducing unemployment. More employment means more money in the pockets of citizens, who are then likely to go out and spend that money, helping the retail sector of the economy. Retail shops experience an increase in business and may need to hire more workers, further reducing unemployment and adding to the economic momentum. While this scenario sounds good in theory, it does not accurately represent what truly happens in a war time economy.In reality, the government can fund a war in a combination of three ways. It can raise taxes, cut spending on other areas, or increase the national debt. Each of these strategies has a negative impact on the economy. An increase in taxes takes money out of an individuals hands, leading to a reduction in consumer spending.Clearly, there is no net benefit to the economy in that case. Cutting spending in other areas has its costs as well, even if they are not as obvious.Any reduction in government spending means the imposition of a greater burden on the benefactors of that government spending. Cutbacks in a particular program mean that the people who normally depend on that program now must spend more of their money to make up for the government cuts. This also takes money out of consumers hands and leaves the economy depressed. Of course, a government could go into debt during the war, but such a strategy simply means that at some point in the future, taxes must be increased or spending decreased. Plus, the interest on the debt must be paid as well.Q. The passage implies which of the following about a government that funds a war by increasing the national debt?

Read the information given below carefully and answer the following question.Rural India face serious shortages – power, water, health facilities, roads, etc. – these are known and recognized. However, the role of technology in solving these and other problems is barely acknowledged and the actual availability of technology in ruralareas is marginal. The backbone of the rural economy is agriculture; which also provides sustenance to over half the country’s population. The “Green Revolution” of the 1970s was, in fact, powered by the scientific work in various agricultural research institutions. Which some fault the Green Revolution for excessive exploitation of water and land resources through overuse of fertilizers, it did bring about a wheat surplus and prosperity in certain pockets of the country. In rural India today, there is a dire inadequacy of both science (i.e. knowledg e) and technology (which derives from science and manifests itself in physical form). The scope to apply technology to both farm and non-farm activities in rural areas is huge, as are the potential benefits. In fact, crop yields are far lower than what they are in demonstration farms, where science and technology are more fully applied. Technologies that reduce power consumption of pumps are vital; unfortunately, their use is minimal, since agricultural power is free or largely subsidized. Similarly, there is little incentive to optimize-through technology or otherwise-water use, especially in irrigated areas (a third of total arable lan d), given employment and incomes, but at present deployment of technology is marginal. Cold storage and cold-chains for transportation to market is of great importance for many agricultural products-particularly, fruits and vegetables-but are non-existent. These are clearly technologies with an immediate return on investment, and benefits for all; the farmer, the end-consumer, thetechnology provider. However, regulatory and structural barriers are holding back investments. Power is a key requirement in rural areas, for agricultural as well as domestic uses. Technology can provide reliable power at comparatively low cost in a decentralized manner. However, this needs to be upgraded and scaled in a big way, with emphasis on renewable and nonpolluting technologies. Reliable and low cost means of transporting goods and people is an essential need for rural areas. The bullock-cart and the tractor-trailer are present vehicles of choice. Surely, technology can provide a better, cheaper and more efficient solution? Information related to commodity prices, agricultural practices, weather, etc., are crucial for the farmer. Technology can provide these through technology mobile phones, which is a proven technology; however, the challenge to ensure connectivity remains. Thus, there is a pressing need for technology as currently economic growth-though skewed and iniquitous-has created an economically attractive market in rural India.Q.Which of the following is currently not a threat to the rural economy?A. Inadequate rural infrastructure such asroads.B. Excessive utilization of technology.C. Fluctuating power supply.

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The share of the tertiary sector to the GDP has increased but the contribution of which sector to employment is the highest at present?a)Secondaryb)Industryc)Information technologyd)PrimaryCorrect answer is option 'D'. Can you explain this answer?
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