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Multiple Choice Questions

Which of the following statements with refer deg ce to the service sector is are correct 1 ...........

Indian Economy Industry

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Which of the following statements with refer° ce to the service sector is/are correct ?

1. Retail trade falls under tertiary activity.

2. Research and. Development based activity comes under quaternary activity.

Select the correct answer using the code given

This questions was previously asked in

EPFO EO AO 2023

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1 Only

2 Only

Both 1 and 2

Neither 1 nor 2

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Explanation:

- Statement 1: Retail trade is a part of the tertiary sector. This sector is primarily involved in providing services rather than goods. It includes industries such as retail, entertainment, and financial services.

- Statement 2: Research and Development (R&D) activities are categorized under quaternary activities. This sector focuses on knowledge-based services, including information technology, consultation, and R&D.

- Option 1: 1 Only. Incorrect, as both statements are correct.

- Option 2: 2 Only. Incorrect, as both statements are correct.

- Option 3: Both 1 and 2. This option is correct since both statements accurately describe their respective sectors.

- Option 4: Neither 1 nor 2. Incorrect, as both statements are correct.

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