How does tertiary sector helps in development of secondary and primary...
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
- Providing banking facilities
- Offering communication facilities
Such facilities catered by the tertiary sector helps in augmented production and sale levels of the primary and secondary sector thus paving the way for their development.
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How does tertiary sector helps in development of secondary and primary...
Tertiary sectors helps in development of both primary and secondary sector in following ways :
(i) It doesn't produce any goods but provides basic services to help in developing both primary and secondary sector.
(ii) The goods produced in the primary or secondary sector need to be transported by trucks or trains and then sold to retailers or wholesalers. Thus, Tertiary activities like transportation helps in this movement.
(iii) Sometimes, it becomes necessary to store goods in godowns, communicate and borrow money from banks. Hence, Tertiary activities like Storage, Communication and Banking facilities helps in these processes.
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How does tertiary sector helps in development of secondary and primary...
The Role of the Tertiary Sector in the Development of the Secondary and Primary Sectors
The tertiary sector, also known as the service sector, plays a crucial role in the development of both the secondary and primary sectors of the economy. It provides essential support and services that facilitate the growth and efficiency of these sectors. Here, we will delve into the ways in which the tertiary sector contributes to the development of the secondary and primary sectors.
1. Infrastructure Development:
The tertiary sector is responsible for the development of infrastructure, such as transportation, communication, and utilities, which are vital for the smooth functioning of the secondary and primary sectors. Infrastructure development facilitates the movement of goods, raw materials, and services between different areas, reducing transportation costs and improving accessibility.
2. Financial Services:
Financial services provided by the tertiary sector, including banking, insurance, and investment, are essential for the development of both the secondary and primary sectors. Access to financial services enables businesses to secure funds for expansion, purchase equipment and raw materials, and manage risks. Additionally, financial institutions play a crucial role in facilitating investments in the primary sector, such as agriculture and mining.
3. Marketing and Distribution:
The tertiary sector plays a vital role in marketing and distributing products and services produced by the secondary and primary sectors. It helps connect producers with consumers by providing advertising, market research, and distribution channels. Effective marketing and distribution strategies contribute to increasing the market reach and demand for goods, thereby promoting the growth of the secondary and primary sectors.
4. Research and Development (R&D):
The tertiary sector actively engages in research and development activities, which benefit the secondary and primary sectors. R&D initiatives help improve production techniques, develop new products and processes, and enhance overall productivity. The tertiary sector collaborates with companies from the secondary and primary sectors to innovate and create technological advancements, leading to improved efficiency and competitiveness.
5. Skill Development and Human Resources:
The tertiary sector plays a crucial role in the development of human resources by providing education, training, and skill development programs. Skilled workforce is essential for the growth and productivity of the secondary and primary sectors. The tertiary sector offers vocational training, professional courses, and managerial programs to equip individuals with the necessary skills and knowledge required for employment in various industries.
Conclusion:
The tertiary sector acts as a catalyst for the development of the secondary and primary sectors by providing infrastructure, financial services, marketing and distribution support, research and development, and skill development. Its contributions are essential for the overall economic growth and sustainability by facilitating the smooth functioning and advancement of the secondary and primary sectors.
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