Which term describes the economy that revolves around providing intangible services such as restaurant work, health care provision, higher education, tech support, and massage?

Question

Business

Mylie Miranda

31 January, 08:58

Which term describes the economy that revolves around providing intangible services such as restaurant work, health care provision, higher education, tech support, and massage?

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Answers (1)

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Emilio Bush · Answer 1

Answer

The correct answer here is service sector.

Explanation:

Service sector is one of the three sectors of economy, which produces both tangible and intangible services like warehousing service, information service, professional, health care, entertainment services etc. Usually countries whose economies centered around service sector are considered to be more progressive or advanced than other economies like agricultural or industrial. This sector is the largest sector of worldwide (global) economy when seen in terms of value added.