Question

Goods and services play an important role in an economy. explain in about 60 words​

Answer 1

Explanation:

Trade in services is playing an increasingly vital role in ... in these economies too will likely join the 60-plus- percent club soon. ... Private goods-producing industries.

Answer 2

MARK AS BRAINLIEST....

plz follow me...☺

Services, with their rising importance in the global economy alongside manufacturing, are becoming more vital in many countries’ economic growth.

Services, with their rising importance in the global economy alongside manufacturing, are becoming more vital in many countries’ economic growth.IT took centuries for the world’s economies to shift from agriculture to manufacturing, but the rise of the services sector is occurring more quickly. The world is in the midst of a radical shift, with the share of total output—world GDP—accounted for by services experiencing a sharp increase in almost all countries.1 Indeed, a few countries, such as India and Sri Lanka, have broken the historical convention by heading straight to services without developing a significant manufacturing sector at all.2 This growth in services has likely transformed not only the composition of the world’s economic production and employment, but potentially global trading patterns over the past few decades.