10 Questions
Which sector has increased importance in industrialized economies?
Service sector
What is the current trend in the Fortune 500 companies list?
More service companies
In which countries is the service economy in developing countries mostly concentrated?
Financial services, hospitality, retail, health, human services, information technology, and education
What is the term used for the transformation of products into services?
Servitization
What has replaced the old dichotomy between product and service?
Service (economics) service–product continuum
What does the term 'servitization of products' refer to?
Transformation of products into services
In which sectors is the service economy in developing countries mostly concentrated?
Financial services, hospitality, and retail
What is the current trend in the Fortune 500 companies list?
More service companies and fewer manufacturers
What has replaced the old dichotomy between product and service?
Service-product continuum
What is the relative importance of service in a product offering?
Higher service component in products
Test your knowledge of the service economy with this quiz. Explore the significance of the service sector in industrialized economies and its impact on Fortune 500 companies. Understand the relative importance of services in product offerings, especially in developing countries.
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