Question

What is the Knowledge economy defined as?

Answer 1

Answer:

Knowledge economy is the "knowledge intensive activity for production of goods as well as services."

Explanation:

The type of economy in which the production of goods as well as the services will depend upon the knowledge intensive activity is called as the Knowledge economy. The result of this knowledge intensive activity will be the large portion of the economic growth and also employment. It plays a major role in human capital. Firms also need to attract and retain the workers by adapting new mode of economy. Various latest growth theories will help in increasing the human capital by increasing the knowledge in order to provide the latest source of economic rise and increased productivity.