Correct option is B
The tertiary sector of the economy includes all services that are intangible and involve the provision of services to individuals and businesses. This sector encompasses services such as education, healthcare, banking, transport, tourism, and entertainment.
Service-Oriented: The tertiary sector is focused on providing services to meet the needs of consumers and businesses rather than producing goods.
Economic Contribution: In modern economies, the tertiary sector plays a dominant role, contributing significantly to GDP and providing employment to a large portion of the population.
Examples: Key examples of the tertiary sector include retail services, IT services, transportation, and banking.
Additional Information:
Secondary Sector: The secondary sector deals with the manufacturing and processing of raw materials into finished goods, such as in industries like textiles, automobiles, and construction.
Quaternary Sector: The quaternary sector includes services related to knowledge-based activities, such as research, technology development, and information technology.
Primary Sector: The primary sector involves the extraction of raw materials directly from the earth, such as farming, mining, and fishing.
English
100 Questions
100 Marks
90 Mins
