ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -Retail trading: Retail trade is a tertiary business activity that involves selling goods and services directly to customers and it occurs through local shops and retail stores devoted to selling customers.

Detailed explanation-2: -Activities that involve the provision of services are categorised under the tertiary sector. For example, transportation, insurance, and tourism are all service activities. Dairy farming is a primary sector activity.

Detailed explanation-3: -It is made of: the market services sector (trade, transports, financial operations, business services, personal services, accommodation and food service activities, real estate, information-communication); the non-market sector (public administration, education, human health, social work activities).

Detailed explanation-4: -Tertiary activity by itself does not produce goods, but supports the production process. For example: Transport, communication, banking, storage and trade.