Historical Changes in Sectors
Historical Changes in Sectors
Historical Changes In Sectors: The developed countries have gone through historic changes in the economic sector as the economic activities had gradually shifted from Primary to Secondary to Tertiary sector. The developed countries of today, were agricultural countries once and then industrialisation shifted the economic activities from Primary to Secondary sector. In the past 100 years, there has been a further shift from secondary to tertiary sector. Now service sector has become the most important sector.
The shifting of economic activities does not mean complete elimination of previous sectors, but the importance and dominance of next sector is increased.
During 1950s and 1960s, Indian economy depended on agricultural and related activities. Between 1973 and 2003, the production in all three sectors has increased substantially, but most in the Tertiary sector.
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