Question

Explain why the United States experienced a shift from an industry-based economy to a service-based economy

Answer 1

Answer:

The Service based economy involves the citizens providing services as their major source of loving . The services include financial , sporting, health, home services etc.

The United States had to shift to a Service based economy because of the service sector having little amount of development and needed to be focused on. This is because the service based economy has the advantage of provision of more employment for its citizens and an increase in the Gross Domestic Product and earnings of the country as a result of increased spending due to the higher availability of jobs.