Tertiary Sector — Chapter Summary
ICSE · Class 9 · Economics
Summary of Tertiary Sector for ICSE Class 9 Economics. Key concepts: The tertiary sector is that, Services are classified as and Transport is the movement.
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Overview
The tertiary sector, also called the service sector, is the largest and fastest growing sector of the Indian economy. It produces services rather than goods and contributes the most to GDP. Its activities include transport, communication, banking, insurance, education, health, and warehousing. The s
Key Concepts
The tertiary sector is that part
The tertiary sector is that part of the economy where businesses produce services. Services are non-physical products that cannot be touched or stored
Services are classified as productive services
Services are classified as productive services and consumer services. Productive services include trading, transportation, communication, financial an
Transport is the movement of men
Transport is the movement of men and materials from one location to another. It includes rail transport, road transport, water transport, and air tran
Communication is the act of sharing
Communication is the act of sharing or exchanging information, ideas, and thoughts within two or more individuals. India has seven means of communicat
A bank is an institution
A bank is an institution that deals in money. It accepts deposits and gives loans. The Reserve Bank of India is the central bank, the apex bank in the
Learning Objectives
- Understand the meaning of the tertiary sector and services
- Identify the main types of services in the Indian economy
- Explain the role of the service sector in GDP and employment
- Describe transport, communication, banking, insurance, education, health, and warehousing as parts of the tertiary sector
- Recognise how the tertiary sector supports agriculture and industry
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Sources & Official References
Content is aligned to the official syllabus. Refer to the board website for the latest curriculum.
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