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प्रश्न
Answer the following question in not more than 150 words.
Discuss the significance and growth of the service sector in modern economic development.
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उत्तर
Services occur at many different levels. Some are geared to industry, some to people, and some to both industry and people, e.g. the transport systems. Low-order services, such as grocery, shops and laundries, are more common and widespread than high-order services or more specialised ones like those of accountants, consultants and physicians. Services are provided to individual consumers who can afford them. For example, the gardener, the launderer, and the barber primarily perform physical labour. Teachers, lawyers, physicians, musicians and others perform mental labour.
The service sector is well developed in regions with high levels of technological and educational know-how. There is an increase in international trade of services. Services, once generated, can be easily availed by many and provide high monetary value in the form of wages, service charges, etc. As a country develops, more and more people shift to tertiary activities, and the share of tertiary activities in the GDP is even faster. The service sector provides the largest amount of foreign exchange and income for the country. Therefore, the service sector is a major contributor to modern economic development.
