Service economy can refer to one or both of two recent economic developments: . The increased importance of the service sector in industrialized economies.The current list of Fortune 500 companies contains more service companies and fewer manufacturers than in previous decades.; The relative importance of service in a product offering. The service economy in developing …

The knowledge economy (or the knowledge-based economy) is an economic system in which the production of goods and services is based principally on knowledge-intensive activities that contribute to advancement in technical and scientific innovation. The key element of value is the greater dependence on human capital and intellectual property for the source of the innovative …