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Which of the following best characterizes the service sector compared to the industrial sector?
Output is intangible and cannot be stored physically.
Strong dependence on human interaction and knowledge.
Output is mainly tangible products manufactured from raw materials.
With reference to limitations of the primary sector, consider the following:
It depends heavily on natural resources like land and weather.
It can expand its output nearly without limits by capital and technology additions.
It is subject to diminishing returns due to reliance on a fixed factor.
Which of the following belong to the knowledge-based quaternary sector of services?
Information Technology (IT) and software services
Data analysis and research services
Construction and real estate activities
Education, R&D, and innovation services
The "dual structure" of Kerala’s service-led growth refers to:
The ability of the service sector to contribute strongly to both growth and development.
The simultaneous presence of inequality, as service income is unevenly distributed.
The equal pace of growth in both industry and service sectors.
Consider the following statements about Kerala’s employment structure compared to all-India (2023-24):
Kerala has a smaller share of its workforce in the primary sector than the national average.
The share of employment in the service sector is higher in Kerala compared to India.
The secondary sector employs a much larger share in Kerala than in India.
Which of the following correctly explain demand-side reasons for sectoral shifts in the economy?
Income elasticity of demand for food is high, so demand for agricultural goods rises faster than income.
Demand for industrial goods and services rises sharply with higher incomes.
Even as incomes rise, food demand increases only marginally.
In the context of Kerala’s economic structure, which of the following are correct?
The share of the primary sector in GSVA has been consistently declining from 2020-21 to 2023-24.
The secondary sector’s share has increased significantly during the same period.
The tertiary sector’s share has been steadily increasing.
With reference to the growth of the service sector globally, consider the following statements:
The trend of services dominating GDP was first explained by economists Fisher (1935) and Colin Clark (1940).
Service sector growth is measured mainly in terms of its contribution to GDP and employment.
In most developing economies, services have always been the largest contributor to GDP.
Which of the following are distinctive characteristics of the service sector compared to primary and secondary sectors?
Production of intangible goods like advice, experience, and attention.
Heavy reliance on human skill, interaction, and knowledge.
Ability to be physically stored and transferred like tangible goods.
Contribution to productivity and sustainability of other sectors.
With reference to Kerala’s unique growth pattern, consider the following:
Kerala followed the traditional structural growth model where industry boomed before services.
In Kerala, the service sector leads growth, with industry lagging behind.
Kerala’s growth is marked by a dual structure—simultaneously driving development and inequality.
Consider the following statements about structural transformation of economies:
In underdeveloped economies, the primary sector remains the largest contributor to national income.
In advanced economies, the service sector becomes the largest contributor to GDP.
A key reason for the decline of the primary sector is its dependence on a fixed factor like land, leading to diminishing returns.
Which of the following are the major sub-sectors classified under the tertiary or service sector in the Indian economy?
Trade, hotels, and restaurants
Transport, storage, and communication
Financing, insurance, and business services
Community, social, and personal services
Mining, quarrying, and construction
In the context of sectoral contribution to Gross Value Added (GVA), which of the following trends are observed in Kerala compared to India (2023-24)?
Kerala’s primary sector contribution to GVA is higher than the all-India average.
The secondary sector contribution is more or less similar in both Kerala and India.
Kerala’s service sector contribution to GVA is much higher than the national average.