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State with reasons, whether the following statements are True or False:Tertiary industry depends upon primary and secondary industry. |
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Answer» This statement is TRUE. Reasons: ‐ Primary and secondary industries are involved in the production of some or the other kind of output or product. ‐ Tertiary Industry, on the other hand, is known as service industry since it provides supportive services to the primary and secondary sector. ‐ It facilitates the functioning of primary and secondary industries by providing them with much needed services such as banking, transport, insurance, warehousing etc. ‐ In other words, the activities of the tertiary sector help in the development of the primary and secondary sectors. ‐ However, tertiary activities alone do not produce any product. They simply aid the process of production carried out by the primary and secondary sectors. Hence, tertiary industry depends upon the primary and secondary industry for its growth. |
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