One of the mysteries of the English language finally explained.
An economy or the sector of an economy that is based on trade in services.
- ‘The entire service economy of the town was built on it, and the impact is only now being felt.’
- ‘We are mostly a service economy based on low wages with a dwindling manufacturing and production economy.’
- ‘We went from a manufacturing economy to a service economy to an information economy.’
- ‘He oversaw the transformation of a high-wage manufacturing economy into a low-wage service economy.’
- ‘There is no doubt that we have transitioned from a service economy to an information economy.’
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