Choose if the given statement is True/False.

Service sectors such as banking are more in demand.

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True

False

answer is A.

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Detailed Solution

The above statement is true.
The tertiary sector has grown rapidly and now contributes to more than half of the GDP from the earlier 35%. This is because as the income across various groups increases, people have more money to spend on services like tourism, eating out, shopping, browsing the internet, etc. However, the development of the tertiary sector has not been the same for everyone employed in this sector. On the one hand, the service sector employs highly educated professionals such as doctors and lawyers. In contrast, on the other, it also employs people who do not have specialized skills and a high level of education in any particular field, such as delivery persons, maintenance specialists, shopkeepers, etc.

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