Which of the following describes “structural change” of the economy?
Change in age composition of the population
Change in shares of sectors’ contributions to GDP
Change from labour-abundant t capital-abundant economy
None of the above
Structural change of the economy is characterised by change in the contribution of each sector to the GDP.
Why did'nt shift out of primary sector happens in case of employement although there has been a change in the share of the 3 sectors in GDP?