The Service Economy Quiz

The decreasing importance of the service sector in most developed and developing countries

The rise of the manufacturing sector in most developing countries

The decline of the agricultural sector in most developed countries

The increasing importance and share of the service sector in most developed and developing countries (correct)

Shift from the service sector to agriculture and then to industry

No significant shift in the mainstay of the economy

Shift from agriculture to industry and then to the service sector (correct)

Shift from industry to agriculture and then to the service sector

Services are completely separate from goods

Goods are completely separate from services

Goods and services are increasingly considered interconnected on a goods-services continuum (correct)

Goods and services are no longer relevant in the modern economy

<p>Hospitals, hotels, banks, colleges, airlines</p> Signup and view all the answers

<p>Output is not a physical product, generally consumed at the time it is produced, provides added value in forms like convenience, entertainment, timeliness, comfort, or health</p> Signup and view all the answers