How is tertiary sector different from the other two sectors of economi...
1.It generates sevices rather than production of goods. 2.It act as a link B/w other to sectors. 3.The development of primary and secondary sector is directly linked to the development of service sector. 4.The pace of development of a country is measure by the movement of goods . 5 In recent years tertiary sector emerged as a largest sector., it contributes app.55 percent towards indian GDP.
How is tertiary sector different from the other two sectors of economi...
The Three Economic Sectors
Economic activities are traditionally divided into three sectors: primary, secondary, and tertiary. Each sector plays a distinct role in the economy.
Primary Sector
- Involves the extraction of natural resources.
- Examples include agriculture, mining, fishing, and forestry.
- Focuses on raw materials that are essential for production.
Secondary Sector
- Involves manufacturing and industrial processes.
- Converts raw materials from the primary sector into finished goods.
- Examples include construction, automobile manufacturing, and textile production.
Tertiary Sector
- Focuses on providing services rather than goods.
- Encompasses a wide range of activities, including healthcare, education, finance, and hospitality.
- Examples include banks, schools, hospitals, and retail stores.
Key Differences
- **Nature of Output**:
- The primary sector produces raw materials,
- the secondary sector manufactures products,
- while the tertiary sector delivers services.
- **Economic Contribution**:
- The tertiary sector has seen significant growth in modern economies, often contributing the largest share to GDP.
- **Employment Trends**:
- The tertiary sector employs a large portion of the workforce, especially in developed nations, reflecting a shift from manufacturing to services.
Conclusion
In summary, the tertiary sector is fundamentally different from the primary and secondary sectors as it emphasizes service delivery rather than goods production. This sector is vital for the overall economic framework, as it supports both the primary and secondary sectors and enhances the quality of life through various services.
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