The automotive industry have on the economy.

What is an industry-based economy ? what is service- or information-based economy?

  • I learned that the United States has shifted from an industry-based economy to one that is service- or infornation-based economy. How changed?

  • Answer:

    Industry based economies produce tangible things like cars or washing machines. Service and information based economies provide services like software. You can't hold them.

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