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service economy

Syllabification: serv·ice e·con·o·my

Definition of service economy in English:

noun

An economy or the sector of an economy that is based on trade in services.
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.

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