Answer:
Tertiary sector is defined as the type of business sector that provide services to consumers such as schools, financial institutions, and restaurants.
Importance of tertiary sector in production is as follows:
- The tertiary sector provides services for production such as transport, trade, storage etc., which support production of goods.
- Tertiary sector provide all the raw material for production in less time depending on the increasing demand of goods as per the increase in population.
- Tertiary sector supports globalization and provide new services to the consumers.
- Tertiary sector keep the production business up to date with new technologies and information technologies, which are essential to create a huge consumer base.
