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Question
What are the components of tertiary activity?
Answer in Brief
Solution
Tertiary activities includes both production and exchange. Production includes the provision of services that are consumed. The output is indirectly measured in terms of wages and salaries. Exchange involves trade, transport and communication facilities that are used to overcome distance. Tertiary activities involve the commercial output of services rather than the production of tangible goods. Examples include work of a technician, driver, lawyer, administrator, publisher, etc
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Types of Tertiary Activities
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