What is the importance of the serevice sector's contribution to an economy's GDP?

Question

help me i need to write an economics paper camparing the importance of the agricultural and service sector. and i have to prove that the service sectors contribution is most important. please help me and give me some points.

thank you.

Answer 1

services are the most common factor in a break down of what income is spent on. think about it here are some services

water

lights

internet providers

tv chanels

postal service

plumbers

electricians

and so on. the thing about services is that the are on level with the tertiary sector and so provide a huge chunk of gdp. services also provide loads of jobs and are fairly free from inputs. service provide a good but that good needs few or no inputs so they are cheap. this means high profits and so are profitable based on the service. just out and so how many services you use. the teller is a service, traffic lights, municipal workers and so on.

Answer 2

You can start by contrasting their share of GDP.  As of Jan 2008 the agricultural sector only contributed 0.09% of GDP.   On the other hand the services sector contribution to GDP was 78.6%.

Study the table linked below.  Notice how in industrialized nations services is the biggest product.  Countries which are less developed produce a lot of agricultural products.