Examlex

Solved

The Service Sector Is Considered the Most Important and Recent

question 47

Essay

The service sector is considered the most important and recent change in the American economy.Discuss this change along with the development of globalization.


Definitions:

Investment

The allocation of resources, often financial, into assets or projects expected to yield future returns or benefits.

Money Supply

The entirety of assets available in monetary form within an economy's borders at a particular moment, consisting of cash, coinage, and records of balances in savings and checking accounts.

Aggregate Demand

The total amount of goods and services in an economy that will be purchased at all possible price levels in a given period.

Aggregate Supply

Aggregate supply is the total supply of goods and services that firms in a national economy plan to sell during a specific time period, affected by several factors including production costs and labor availability.

Related Questions