service economy

service economy definition - business

service economy

The portion of an economy devoted to service activities such as financial services, education, sales, research, and entertainment. Technological improvements have allowed developed countries to transfer resources from agriculture and manufacturing to providing services.

The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

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