Tertiary Sector
ICSE · Class 9 · Economics
Quick revision notes for Tertiary Sector — ICSE Class 9 Economics. Key concepts, formulas, and definitions for last-minute revision.
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Key Topics to Revise
Meaning and Types of Services
- The tertiary sector produces services, not goods.
- Services can be productive services or consumer services.
- Productive services include trading, transportation, communication, financial and banking services.
Role of the Tertiary Sector in India
- The service sector contributes around 55% to India's GDP.
- It presently employs around 32% of the workforce.
- It is the largest sector of the Indian economy in terms of national income.
Transport
- Transport means the movement of men and materials from one location to another.
- Transport facilities are part of the transport system.
- Transport is essential for the movement of raw materials, fuel, machines, goods, and labour.
Rail Transport
- Rail transport carries passengers and goods on wheeled vehicles running on rails.
- It is useful for heavy and bulky goods over long distances.
- It can carry a large number of people safely and economically.
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