Rise of the service economy Flashcards
1
Q
what is the service economy?
A
Increased people working in the service and industry sectors
Service (tertiary)
Industry (quaternary)
2
Q
why is there a rise in the service economy?
A
- knowledge economy grew
- research and development grew
- companies needed more office staff
- growth of the leisure, retail and tourism sector/industry
3
Q
What are the social effects?
A
- More jobs (Only for high skill level)
- Jobs are highly qualified
4
Q
What are the economic effects?
A
- companies earn more money
- not many highly paid jobs
5
Q
Where are these located?
A
- urban areas of HIC’s - large cities
- university cities
