An economy in which much of the workforce is involved in designing, development, technology, marketing, sales and servicing is called :
(1) Professional Economy
(2) Knowledge Economy
(3) Paperless Economy
(4) Modern Economy
Answer & explanation
Correct answer: option 2
The correct answer is Option (2) → Knowledge Economy
Option (2) Knowledge Economy — Correct. A knowledge economy is one in which much of the workforce is involved not in the physical production or distribution of material goods, but in their design, development, technology, marketing, sale and servicing. It ranges from a neighbourhood catering service to large organisations providing services.
NCERT (2025-26): “The Economic … In contrast to previous eras, the global economy is no longer primarily agricultural or industrial in its basis. The weightless economy is one in which products have their base in information, as in the case with computer software, media and entertainment products and internet-based services. A knowledge economy is one in which much of the workforce is involved not in the physical production or distribution of material goods, but in their design, development, technology, marketing, sale and servicing.…” |