Service Economy

Definition of Service Economy

The Canada social science dictionary [1] provides the following meaning of Service Economy: Usually contrasted with a goods-producing economy and refers to an economy based largely on the provision of service rather than manufactured goods. These services may include medical service, accounting, social work, teaching, design, consultancy, short order cook, waiting tables, driving taxi. The shift to a service economy is sociologically interesting because it appears to be associated with different labour market demands, differing educational requirements, and differing wage structures. See: GOODS PRODUCING ECONOMY in this legal dictionary and in the world encyclopedia of law.

Service Economy: Resources

Notes and References

• Drislane, R., & Parkinson, G. (2016). (Concept of) Service Economy. Online dictionary of the social sciences. Open University of Canada