Which statement BEST describes why services are considered the dominant sector in most modern economies?

Question

Accepted Answer

Services account for the majority of GDP and employment in developed nations, driven by growth in healthcare, finance, education, and professional services

Answer

Services are dominant because they require significantly less capital investment than goods-based production

Answer

Services have replaced manufacturing entirely in most OECD countries due to advances in digital technology

Answer

Services dominate because digital platforms have reduced the cost of service delivery below that of physical goods production

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Which statement BEST describes why services are considered the dominant sector i...

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