Q3 of 11 Page 42

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

Service sector is one that provided services rather than goods. In this sector, no goods are produced. In recent years the service sector has become the most important sector in GDP contribution.

Services compromises of:


1. Community, Social and personal services: These includes services like health, education, defense, etc.


2. Finance, insurance, and real estate: Services like banks, Insurance, brokerage, etc.


3. Trade, hotels, transport communication services.


Other sectors like Agriculture, Industries are involved in the production of goods.


More from this chapter

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1

Do you think the classification of economic activities into primary, secondary and services sectors is useful? Explain how.

 2

For each of the sectors that we came across in this chapter, why should one focus on employment and GDP? Could there be other issues which should be examined?

Discuss.

 4

What do you understand by underemployment? Explain with one example each from the urban and rural areas.

 5

The workers in the unorganized sector need protection on the following issues: wages, safety, and health. Explain with examples.