What do you mean by structural change? What is its relationship with e

1.	What do you mean by structural change? What is its relationship with economic development?
Answer» The occupational structure of a country refers to the distribution of its workforce according to the different occupations. It indicates the structure of economic activities. It tells us on what sector the people of the country depend for their living. It also indicates the level of development of the country. As a country develops, it undergoes structural changes with the development of the economy the share of agriculture declines and the share of industry becomes dominant. At higher levels of development, the service sector contributes more to the GDP than the other two sectors. In India, the share of agriculture in GDP is declining and the share of service sector is increasing. It reflects the relationship of economic development and structural changes.

What do you mean by structural change? What is its relationship with economic development?

Answer»

The occupational structure of a country refers to the distribution of its workforce according to the different occupations. It indicates the structure of economic activities. It tells us on what sector the people of the country depend for their living. It also indicates the level of development of the country.

As a country develops, it undergoes structural changes with the development of the economy the share of agriculture declines and the share of industry becomes dominant. At higher levels of development, the service sector contributes more to the GDP than the other two sectors. In India, the share of agriculture in GDP is declining and the share of service sector is increasing. It reflects the relationship of economic development and structural changes.

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