Consider the following statements 1 Generally in developed countries service sector contributes in t...........

Economic Affairs Development and Indicators

Consider the following statements:-

1.Generally in developed countries service sector contributes (in terms of GDP) more than Primary sector.

2.Generally in least developed countries Primary sector contributes (in terms of GDP) more than secondary and tertiary sector.

Choose the correct statements

1 only

2 only

Both 1 and 2

Neither 1 nor 2

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Explanation:

Both 1 and 2

Generally in developed countries, the service sector contributes more than the primary sector in terms of GDP: This statement is correct. Developed countries often experience a shift from agriculture (primary sector) and manufacturing (secondary sector) to services (tertiary sector) as their economies advance.

Generally in least developed countries, the primary sector contributes more than the secondary and tertiary sectors in terms of GDP: This statement is correct. In many least developed countries, agriculture and other primary activities continue to play a dominant role in the economy.

Therefore, the correct answer is "Both 1 and 2."

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