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The shift toward a service-based economy in the 1970s was driven by several factors, including technological advancements that increased productivity and reduced the need for labor in manufacturing. Additionally, rising consumer demand for personalized services and experiences contributed to the growth of sectors like healthcare, finance, and retail. Economic globalization also played a role, as companies began outsourcing manufacturing to countries with lower labor costs, further emphasizing the importance of service industries in developed economies.
What else can I help you with?
Which factor was a major cause of the stagnant economy in the US during the early 1970s?
Is it about the oil prices.
What problem did the move toward a market economy economy cause?
inflation due to lack of goods and profit motive unemployment due to change in objective and structure of the economy industrial unrest due to labour unrest lack of markets lack of welfare system changes in the international trade pattern
Was the economy good in the 1970s?
No, there was a terrible recession in the 1970s and a horrible gas crunch caused by propaganda. The recession cause prices and realty to skyrocket. Unemployment was high too. Many women HAD to go to work in the 70s because of the recession. It became hard for a couple to survive on one paycheck. Some investors lost a lot of money then too.
A major cause of inflation and consumer worry in the 1970s was the surging cost of?
Oil. (:
What fiscal policy action would cause the economy to contract?
Policies that raise taxes tend to contract the economy. In addition, policies that cause the government to do less spending contract the economy.
Which factor was a major cause of the stagnant economy in the US during the early 1970s?
Is it about the oil prices.
What problem did the move toward a market economy economy cause?
inflation due to lack of goods and profit motive unemployment due to change in objective and structure of the economy industrial unrest due to labour unrest lack of markets lack of welfare system changes in the international trade pattern
What was a chief cause of the rising prices of the 1970s?
war in the east
Was the economy good in the 1970s?
No, there was a terrible recession in the 1970s and a horrible gas crunch caused by propaganda. The recession cause prices and realty to skyrocket. Unemployment was high too. Many women HAD to go to work in the 70s because of the recession. It became hard for a couple to survive on one paycheck. Some investors lost a lot of money then too.
Why did the french come to Canada?
they came to Canada 'cause the economy was better
A major cause of inflation and consumer worry in the 1970s was the surging cost of?
Oil. (:
What fiscal policy action would cause the economy to contract?
Policies that raise taxes tend to contract the economy. In addition, policies that cause the government to do less spending contract the economy.
Does the economy cause wars?
Sometimes, but most of the time it's the wars that effect the economy.
What was a primary cause of famine in Sudan and Ethiopia in the 1970s and 1980s?
War disrupted food distribution.
Why is productivity related to the economy?
cause it just is
Disadvantage of market economy?
One of the key disadvantages of a market economy is that it is unpredictable. Many events can cause shocks in a market economy. For instance, a natural disaster or war can cause volatility in the market. A lack of stability is the key feature of the market economy.
What does the word tilted mean?
Move or cause to move into a sloping position: "the floor tilted slightly"; "the balance of industrial power tilted toward the workers".Incline or cause to incline toward a particular opinion: "he is tilting toward a new economic course".
