Definition of service economy in English:

service economy

Syllabification: serv·ice e·con·o·my

noun

  • An economy or the sector of an economy that is based on trade in services.
    More example sentences
    • We went from a manufacturing economy to a service economy to an information economy.
    • There is no doubt that we have transitioned from a service economy to an information economy.
    • We are mostly a service economy based on low wages with a dwindling manufacturing and production economy.

Get more from Oxford Dictionaries

Subscribe to remove adverts and access premium resources

Word of the day maelstrom
Pronunciation: ˈmeɪlstrəm
noun
a powerful whirlpool in the sea