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Question
“ Services are very important aspect for the economic development of a country”. Analyse the statement by explaining five components of a service sector.
Answer in Brief
Solution
All types of services are special skills provided in exchange for payments. Health, education, law, governance, and recreation, etc. require professional skills. These services require other theoretical knowledge and practical training.
Major components of the service sectors:
- Finance
- Business sector
- Wholesale and Retail trading
- Transport and communication
- Government at different levels
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Types of Tertiary Activities
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