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Theoretically yes, it is possible for an economy to base itself solely on services (and importing manufactured materials/raw materials from other countries). However, in real life, it is more "service dominant" than "service monopoly". Countries in Europe are primary examples of where the service sector is much bigger than the primary and secondary sectors.
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What production is the current US economy is based primarily?
Services.
System that combines the free market with some government intervention?
Market Economy A market economy is a system in which decisions on production and consumption of goods and services are based entirely on exchange, or trade; The answer to this is Mixed Economy.A mixed economy is a system that combines the free market with some government intervention.
Is the current US economy is based primarily on the production of Agricultural goods Goods for Federal government use Manufacturing goods or Services?
services
What are the components of a free market economy?
A free market economy is a market based one. The prices of goods and services are determined independently in a free market.
What does diverse economy mean?
A diverse economy is an economy based on more than one thing. So there is a great deal of diversity as far as products , goods and services as well as vendors.
Is it possible for an economy to based on services only?
Yes. Monaco and Lichtenstien are examples of service-only economies.
The first economy based entirely on the bondage of black africans?
sao tome
What production is the current US economy is based primarily?
Services.
System that combines the free market with some government intervention?
Market Economy A market economy is a system in which decisions on production and consumption of goods and services are based entirely on exchange, or trade; The answer to this is Mixed Economy.A mixed economy is a system that combines the free market with some government intervention.
What are some possible question that you can ask about this type of economy?
The Economy of the South was Agricultural Based.
Who was more dependent on agriculture the south union or the north union?
The South's economy was based almost entirely on agriculture
Is Mexico's economy based on agriculture or industry?
It is neither. Mexico's economy is based on the services and commerce sector, which accounts for 69.5% of Mexico's national income and employs 58% of the labor force.
Is the current US economy is based primarily on the production of Agricultural goods Goods for Federal government use Manufacturing goods or Services?
services
What are the components of a free market economy?
A free market economy is a market based one. The prices of goods and services are determined independently in a free market.
What does diverse economy mean?
A diverse economy is an economy based on more than one thing. So there is a great deal of diversity as far as products , goods and services as well as vendors.
What countries have a custom based economy?
A custom based economy refers to an economy whereby the goods and services that have value are given without any form of agreement. This is done for a reward in future or at the moment. At the moment China is practicing this with some African countries.
What do you mean by digital economy?
it is an economy based on electronic goods and services which produced by the electronic business and traded through the electronic commerce and also in internet and web
