Answer:
The points of significance of service setter in the modern economic development ot the world are as follows: (i) Services are an important constituent of the modern economic development which includes retailing or the modern of goods to the people. (ii) The provision of services of ail kind ? education, health, welfare, leisure, recreation, and business services. (iii) In developed economies service based development he been very rapid. (iv) Service sector is growing faster than the manufacturing sector and its contribution to the national income is also very high, (v) The formal sectors support the national income whereas the services of informal sectors in which large number of rural migrants are working. Besides this large number of unskilled workers are poorly paid and their services are not accounted.
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