Question
What activities are performed by tertiary industry? Also, list the functions performed by them to remove the hindrances in the production and distribution of goods and services.

Answer

These industries comprise of activities concerned with the rendering of services which help other businesses to perform unhindered. These industries bridge the gap between the producers of goods and services and their consumers. This sector comprises of transport, communication, banking, insurance, warehousing and advertising industries.
These industries facilitate the production and distribution of goods, as explained below:
  1. Transport facilitates movement of goods from one bi place to another.
  2. Banking provides credit facilities and also provides banking services.
  3. Insurance covers various kinds of business risks.
  4. Warehousing provides storage facility to the producers.
  5. Advertising provides information to consumers.

Need a full question paper?

Generate a complete, print-ready paper with questions like this in minutes — across 16+ boards, with answer keys.

Start Generating Free