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Preferred term

service economy  

Definition

  • The term service economy refers to those industries and occupations within the formal economy that provide various services. It is a broad, general term covering industries as diverse as insurance, transportation, and food, and occupations as diverse as lawyers, investment bankers, and bartenders. [Source: Encyclopedia of Social Problems; Service Economy]

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URI

https://concepts.sagepub.com/social-science/concept/service_economy

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