2023 · Q48
Which of the following statements with reference to the service actor is/are correct? Retail trade falls under tertiary activity. Research and Development based activity comes under quaternary activity. Select the correct answer using the code given below:
Indian EconomyInflation and external sector
- A1 only
- B2 only
- CBoth 1 and 2
- DNeither 1 nor 2
Explanation
(Reading 'service actor' as 'service sector':) Retail trade is a classic tertiary (service) activity, so statement 1 is correct. Research and Development is a knowledge-based activity classified under the quaternary sector, so statement 2 is correct. Both statements are correct, option (c).