Which services are demanded when there is a rise in income levels of certain sections of people?

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Schools

Shopping

Warehousing

Both 1 and 2

answer is D.

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Detailed Solution

Schools and shopping services are demanded when there is a rise in the income levels of certain people. The tertiary sector is the most advanced sector and hires highly educated and skilled workers. It has less employee absorption capacity but contributes the most to the GDP of the Indian economy. It includes services like banking, insurance, information technology, lawyers, teachers, administrative and accounting services, software companies, etc. With the rise in income levels, people are demanding more services like schools with enhanced quality of learning and shopping centres with a wide range of products to improve their quality of life and living standards.

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