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The chapter explores various tertiary and quaternary activities, emphasizing their significance in the modern economy. It highlights how services are crucial for economic development and how various professional skills cater to societal needs. The content also delves into the rise of medical tourism and outsourcing of services, underlining the interconnectedness of global economies.
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NCERT Study MaterialClass Notes
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Term: Tertiary Activities
Definition: Services provided in sectors such as health, education, and law, primarily involving skilled labor.
Term: Quaternary Activities
Definition: Knowledge-based services that involve research, development, and specialized skills.
Term: Outsourcing
Definition: Contracting out services to external agencies to improve efficiency and reduce costs.
Term: Medical Tourism
Definition: Travel for medical treatment combined with tourism, often providing affordable healthcare.
Term: Digital Divide
Definition: Inequities in access to information and communication technology across different regions.