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why tertiary sector of economy is very much important than primary and secondary sector?
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why tertiary sector of economy is very much important than primary and...
The tertiary sector or the service sector composes almost 50% of India's population. The young generation studies hard, get good marks and then simply hunt for a good and secure job. The reasons why this sector is gaining importance can be summed up in the following points:

1. The need for tertiary is increasing as there is more need of services like financial institutions, educational institutions etc. in the Indian economy.

2. The tertiary sector accounts for most of the national and per capita income of India.

3. The tertiary sector created huge employment even for the uneducated and unskilled workers.

4. The tertiary sector is responsible to distribute its services and goods to different consumers.
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Most Upvoted Answer
why tertiary sector of economy is very much important than primary and...
Services are more important and higher in demand with a wider scope. Hence, as a country develops on, it is observed that the Tertiary sector begins to contribute more to the GDP than the Secondary or Primary sectors. So, normally a Tertiary economy is more developed than a Primary economy.
Community Answer
why tertiary sector of economy is very much important than primary and...
The tertiary sector, also known as the service sector, plays a crucial role in an economy and is considered more important than the primary and secondary sectors. Here's a detailed explanation of why the tertiary sector is significant:

1. Definition and Scope:
The tertiary sector includes a wide range of services such as banking, healthcare, education, transportation, tourism, entertainment, and many others. It focuses on providing intangible goods and services rather than physical products.

2. Contribution to GDP:
The tertiary sector typically contributes the most to the Gross Domestic Product (GDP) of a country. As economies develop, there is a shift from primary activities (agriculture, mining) to secondary activities (manufacturing, industry), and finally to tertiary activities. This shift reflects the growing importance of the service sector in generating economic value.

3. Employment Generation:
The tertiary sector is a major source of employment opportunities. With the advancement of technology, the primary and secondary sectors have become more mechanized, leading to a decline in their labor-intensive nature. On the other hand, the service sector heavily relies on human skills and expertise, creating a vast number of jobs.

4. Income Generation:
The tertiary sector often provides higher-paying jobs compared to the primary and secondary sectors. Skilled professionals in areas like finance, healthcare, and information technology command higher salaries due to their specialized knowledge and expertise. This translates into increased income levels and improved standards of living for individuals.

5. Innovation and Technology:
The service sector is known for its constant innovation and adoption of new technologies. This not only enhances the efficiency and quality of services but also drives overall economic growth. Technological advancements in fields like telecommunications, e-commerce, and software development have enabled the emergence of new service-based industries, contributing to economic expansion.

6. Interdependence:
The tertiary sector is closely interconnected with the primary and secondary sectors. It relies on raw materials, infrastructure, and manufactured goods provided by the other sectors. For instance, the tourism industry relies on transportation (secondary sector) and attractions like natural landscapes (primary sector). This interdependence ensures a balanced and holistic development of the economy.

7. Economic Stability:
The tertiary sector offers stability to an economy as it is less vulnerable to natural disasters, price fluctuations, and resource availability issues compared to the primary and secondary sectors. This stability helps to cushion the impact of economic downturns and provides a more consistent source of revenue.

In conclusion, the tertiary sector is vital for economic growth and development. Its contribution to GDP, employment generation, higher incomes, innovation, interdependence with other sectors, and economic stability make it more important than the primary and secondary sectors. The continued expansion and improvement of the service sector are crucial for the overall well-being and prosperity of an economy.
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Read the extract given below and answer the questions that follows:There are many activities that are undertaken by directly using natural resources. When we produce a good by exploiting natural resources, it is an activity of the primary sector. Since most of the natural products we get are from agriculture, dairy, fishing, forestry, this sector is also called agriculture and related sector. The secondary sector covers activities in which natural products are changed into other forms through ways of manufacturing that we associate with industrial activity. It is the next step after primary. The product is not produced by nature but has to be made and therefore some process of manufacturing is essential. After primary and secondary, there is a third category of activities that falls under tertiary sector and is different from the above two. These are activities that help in the development of the primary and secondary sectors. These activities, by themselves, do not produce a good but they are an aid or a support for the production process. The various production activities in the primary, secondary and tertiary sectors produce a very large number of goods and services. Also, the three sectors have a large number of people working in them to produce these goods and services. The value of final goods and services produced in each sector during a particular year provides the total production of the sector for that year. And the sum of production in the three sectors gives what is called the Gross Domestic Product (GDP) of a country. It is the value of all final goods and services produced within a country during a particular year. GDP shows how big the economy is.Q. Production of a commodity, mostly through ways of manufacturing is an activity of which sector?

Read the extract given below and answer the questions that follows:There are many activities that are undertaken by directly using natural resources. When we produce a good by exploiting natural resources, it is an activity of the primary sector. Since most of the natural products we get are from agriculture, dairy, fishing, forestry, this sector is also called agriculture and related sector. The secondary sector covers activities in which natural products are changed into other forms through ways of manufacturing that we associate with industrial activity. It is the next step after primary. The product is not produced by nature but has to be made and therefore some process of manufacturing is essential. After primary and secondary, there is a third category of activities that falls under tertiary sector and is different from the above two. These are activities that help in the development of the primary and secondary sectors. These activities, by themselves, do not produce a good but they are an aid or a support for the production process. The various production activities in the primary, secondary and tertiary sectors produce a very large number of goods and services. Also, the three sectors have a large number of people working in them to produce these goods and services. The value of final goods and services produced in each sector during a particular year provides the total production of the sector for that year. And the sum of production in the three sectors gives what is called the Gross Domestic Product (GDP) of a country. It is the value of all final goods and services produced within a country during a particular year. GDP shows how big the economy is.Q. Which of the following is an example of tertiary activities?

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