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Shelly makes an excellent salary as a production manager for a large company. John has lost his job and has been having a difficult time making ends meet. If Shelly and John were looking to buy the same product, we would expect John to expend more effort than Shelly in gathering information and looking at alternatives.
Service Economy
An economic phase in which the service sector generates more wealth than the manufacturing sector of the economy, characterized by a high volume of services relative to goods.
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