How is the tertiary sector different from other sectors ? Illustrate with a few examples.?

Question

Answer

Tertiary sector is different from the other sectors because this sector does not produce goods but they are an aid or support for the production process. Since these activities generate services rather than goods, the tertiary sector is also called service sector. It helps in development of primary and secondary sectors.
Examples:(a) Transportation-Goods that are produced in the primary sectorneed to be transported by trucks or trains and then sold in the wholesale andretail shops.(b) Storage-At times it is necessary to store these products in godowns, which is also a service made available.(c) Communication-Talking to others on telephone;(d) Banking-Borrowing money from the banks

Answer

Introduction

The economy is divided into three sectors: primary, secondary, and tertiary. The tertiary sector is the service sector and is the largest sector of the economy, accounting for almost 80% of the world's gross domestic product (GDP).

Difference from other sectors

The tertiary sector is different from the other two sectors in several ways:

It is not involved in the production of goods.

It provides services to businesses and consumers.

It is less dependent on natural resources than the primary and secondary sectors.

The workforce is less dependent on physical labor and more dependent on skills and knowledge.

Examples

Here are a few examples of industries that are part of the tertiary sector:

Hospitality: Hotels, restaurants, and catering businesses provide services to travelers and locals.

Finance: Banks, insurance companies, and investment firms provide financial services to businesses and consumers.

Healthcare: Hospitals, clinics, and private practices provide medical services to patients.

Education: Schools, colleges, and universities provide educational services to students.

Transportation: Airlines, railways, and bus companies provide transportation services to travelers.

Communication: Telecom companies, internet service providers, and media companies provide communication services to businesses and consumers.

Conclusion

The tertiary sector is the largest and fastest-growing sector of the economy. It provides services that are essential to businesses and consumers. The sector is less dependent on natural resources and physical labor than the primary and secondary sectors. The workforce is more dependent on skills and knowledge. The examples mentioned above illustrate the diversity and importance of the tertiary sector.

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