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THE WAXING OF A SERVICE-DRIVEN ECONOMY

17 November, 2015 - 12:36

Particularly in developed countries, where the basic needs of the majority of the citizens have been met, the demand is increasing for all kinds of services. Whereas in a product-oriented market the most important commodity is energy, in today's service-oriented markets it is knowledge." 1 The specialized knowledge that different countries have gives them a substantial competitive advantage in providing particular services. Some of these services-in such fields as information processing-relate to the latest scientific developments. Others reflect the new interest in leisure and entertainment. For example, the United States has taken fast food to Japan, and Japan has brought sushi to America.