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Advanced Economies: Role of Tertiary Activities and Global Trade Dynamics

December 8, 2023 793 0

Evolution of Jobs: From Tertiary Activities to Specialized Services

Tertiary activities, involving paid services and specialized skills, become more prominent as economies advance, marking a shift from primary sectors for employment. Whereas Quaternary activities revolve around knowledge-based endeavours like IT and research, requiring specialised expertise. Quinary activities focus on high-level decision-making and human-centric roles such as healthcare and policy-making, representing the apex of specialised service sectors. 

The main difference between secondary activities and tertiary activities is that the expertise provided by services relies more heavily on specialised skills, experience and knowledge of the workers rather than on the production techniques, machinery and factory processes.

Types of Tertiary Activities: A Comprehensive Overview

  • Tertiary activities encompass a range of services (Refer to Figure) including purchasing books and stationery, using public transport, sending letters, making phone calls, and seeking services like education and healthcare.
  • The chart provides the basis for classifying the tertiary activities.

Service Sector

  • Trade and Commerce: Barter to Global Exchanges for Profit
    • Global Exchange through Trade: Trade involves the buying and selling of products that are produced elsewhere. 
    • Evolution of Trade: Trade has evolved from simple barter systems at the local level to complex international monetary exchanges.
    • Trade Expansion: It led to the rise to various trading centres (cities and towns where trading predominantly occurs) and institutions, which act as collection and distribution points.
    • Profit Motive: The primary motive behind trade and commerce is profit.

Tertiary Activities

  • Types of Trading Centres: Serving Rural Needs and Periodic Demands
    • Rural Marketing Centres: These are the centres that cater to nearby settlements and are considered quasi-urban. 
      • They offer basic trading services and are the primary collection and distribution points for rural areas, engaging in various tertiary activities.
    • Periodic Markets: These are the markets that emerge in areas without regular markets. 
      • These can be weekly or bi-weekly and cater to the accumulated demands of the local populace. 
      • These markets rotate locations, ensuring shopkeepers remain active and a broader area benefits from their services.
    • Urban Marketing Centres: These are the centres that offer a broader range of specialised services. They not only provide everyday goods but also specialised products. 
      • Urban centres present manufactured goods and have specialised markets for various needs, such as labour, housing, and finished products. 
      • Additionally, they offer services from educational institutions and professionals like teachers, lawyers, consultants, and healthcare providers, reflecting a diverse array of tertiary activities.

More on Stores

  • Retail Trading: Stores to Diverse Selling Methods

    • Meaning: It refers to the business process where goods are sold directly to end consumers, particularly within the realm of Tertiary Activities.
    • Retail Landscape: The majority of retail sales occur in fixed establishments or stores that are exclusively dedicated to selling products.
    • Non-Store Trading Methods: Beyond traditional brick-and-mortar stores, there are various non-store retail trading methods. 
      • These include street peddling, selling from hand carts or trucks, door-to-door sales, mail-order services, telephone sales, automatic vending machines, and online sales via the Internet.

Also Read: Tertiary Sector: Specialization, Innovation and Service Sector

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Quick Revise Now !
UDAAN PRELIMS WALLAH
Comprehensive coverage with a concise format
Integration of PYQ within the booklet
Designed as per recent trends of Prelims questions
हिंदी में भी उपलब्ध

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