Consumption of information-based services comes under which one of the following sectors?

Question

Passage:
The Quaternary Sector along with the Tertiary Sector has replaced most of the primary and secondary sectors on the basis of economic growth. More than half of workers in developed economies are in the services sector. Knowledge-oriented services are growing due to the demand for consumption of information-based services from mutual fund managers to tax consultants, software engineers and statisticians. Personnel working in office buildings, elementary schools and university classrooms, hospitals and doctors’ offices, theatres, accounting and brokerage firms all belong to this category of services. Like some of the tertiary functions, quaternary activities can also be outsourced. They are not tied to resources, affected by the environment, or necessarily localised by market.

Answer 1

Periodic markets in rural areas are temporary marketplaces established at regular intervals (weekly or biweekly) in various village locations. They fulfill local needs by providing a platform for villagers and small-scale traders to sell agricultural produce and household goods. These markets are typically not permanent and convene only on designated days.
Option A: Incorrect — quasi-urban centers denote small towns, not periodic rural markets.
Option B: Correct — periodic markets take place on specific days at specific rural locations.
Option C: Incorrect — personal and professional services are restricted within such temporary arrangements.
Option D: Incorrect — vendors might source goods from diverse origins, not exclusively from wholesale markets. Therefore, the correct option is (B): These markets are held on specific days at different locations.

Consumption of information-based services comes under which one of the following sectors?

Show Hint

The Correct Option is B

Solution and Explanation

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