Since the ________, the U.S economy has shifted from manufacturing to a service based economy. Group of answer choices1990's1980's1970's1960's
Question
Since the ________, the U.S economy has shifted from manufacturing to a service based economy.
Group of answer choices
- 1990's
- 1980's
- 1970's
- 1960's
Solution
The shift in the U.S. economy from a manufacturing-based economy to a service-based economy primarily began in the late 20th century, particularly during the 1970s and 1980s. This transition was influenced by several factors, including globalization, technological advancements, and changes in consumer preferences.
During the 1970s, there was a notable decline in manufacturing jobs, as many companies started to outsource production to countries with lower labor costs. This trend accelerated in the 1980s, as advancements in technology made it easier to automate many manufacturing processes, further reducing the need for factory labor in the U.S.
By the 1990s, the service sector had fully emerged as the predominant sector of the economy, with significant growth in industries such as finance, healthcare, and information technology. Thus, while the seeds of this transition were sown in the 1970s, it was during the 1980s that the shift became most pronounced.
Given the options, the most accurate choice for when this transition prominently began would be the 1970's.
Similar Questions
The citizens of the United States live and work in a a) closed economy. b) command economy. c) mixed market economy. d) pure market economy.
Between the 1950s and the 1970s, industrial production continued to grow at a steady pace.Group of answer choicesTrueFalse
Evaluate the extent to which economic growth led to changes in United States society in the period from 1940 to 1970.
History shows that technological change _____ produces big market shifts.Multiple choice question.rarelyoften
Which industry is highlighted as a contemporary example scrutinized a great deal?*1 pointa) Textileb) Oilc) Automobiled) Pharmaceutical
Upgrade your grade with Knowee
Get personalized homework help. Review tough concepts in more detail, or go deeper into your topic by exploring other relevant questions.