Question

For a country's employment; shifting from agriculture and industry to services sector means what? What can we say about this country's economy?

Answer 1

For a country's employment when shifting from agriculture and industry to service sector means that particular country is DEVELOPING country.During 1920 s most of country's where engaged into primary products (agriculture, fisheries, mining etc).Many countries country's national income was dominated by primary sector.Later many countries started shifting their employment from agriculture to industry and service sectors.Such countries are termed as developing countries.

These countries are characterized by :Low per capita real income; High population :High rates of unemployment ;low level of capital formation ; Dualistic structure of underdeveloped economy; Greater Potential with Human resource ; Low savings ; concentration on narrow range of exports etc.