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Created by : shailesh , B.B.A student, kumaun university, ssj campus almora  | 07 18 2012 08:00:33 +0000
Activity:  262 views;  last activity : 07 18 2012 12:21:37 +0000
 
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Manufacturing Economy Vs Service Economy
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A service economy is based on providing services. For example, backpacking trips, jet ski rental, motorcycle rental, bicycle rental, hotel rental, vacation rentals, boat rentals, jumper rentals, car rentals, game rentals, theme parks. Almost anything you would do on vacation or where someone is providing a service for you: waiting your table, cleaning your hotel room, cleaning your clothing. A manufacturing economy is based on using tools to make a product. China has a huge manufacturing economy right now. They can produce almost any item, from computers to dining room tables. This is a very quick idea to begin discussion about the differences between these economies. Hawaii has a service economy because lots of people go there for vacations. Most of the tourism money comes from service businesses. On the other hand China is making most of their money by producing products in large factories.


By shailesh , B.B.A student, kumaun university, ssj campus almora  | 07 18 2012 08:00:33 +0000
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They are not mutually exclusive. Both are important. However, reliance on Service oriented economy is not at all advisable for having a sound economy. On the other hand economy based on Manufacturing only means there is some space left over to expand. India is more of "service oriented economy, we are ignoring the potentiality of manufacturing. This is the biggest weakness of our economy.


By Srinivas suravajhala, Asst. Manager.  | 07 18 2012 12:21:56 +0000
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