What is meant by service sector?
The service sector, also known as the tertiary sector, is the third tier in the three sector economy. Instead of the product production, this sector produces services maintenance and repairs, training, or consulting. Examples of service sector jobs include housekeeping, tours, nursing, and teaching.
What is service sector with example?
The service sector provides services, rather than producing material commodities. Activities in the service sector include retail, banks, hotels, real estate, education, health, social work, computer services, recreation, media, communications, electricity, gas and water supply.
What is the role of service sector?
Service sector provides finance, marketing, transport, insurance for the development of the agriculture sector. The expansion of service sector activities boost the secondary sector activities as well. … Service sector can play a major role in reducing inequalities in the distribution of income in the economy.
What is service sector and its importance?
Answer: The service sector makes an important contribution to GDP in most countries, providing jobs, inputs and public services for the economy. Trade in services can improve economic performance and provide a range of traditional and new export opportunities.
How many types of service sector are there?
13 Types of Service Sectors in India.
What are the different types of services?
Types of Services & Classification of Services
- Business services.
- Construction and engineering.
What are the 3 main producing sectors?
The three-sector model in economics divides economies into three sectors of activity: extraction of raw materials (primary), manufacturing (secondary), and service industries which exist to facilitate the transport, distribution and sale of goods produced in the secondary sector (tertiary).
What are the basic services in the Philippines?
Kilos SAMBAYANAN, or Kilos para sa Sampung Batayang Pangangailangan, is NAPC’s campaign for the fulfillment of the ’10 basic needs’ of the Filipino people: food and land reform; water; shelter; work; education; health; social protection; healthy environment; peace; and participation.