Can you guys help me on this? Thank you! Here is the question: Is it possible for a country's economy to be based entirely on services? Here's my classmate's reply: No, a country can’t rely only on services for its economy. Even those focused on services still need farming, manufacturing, and imports for essential items like food and products. Relying solely on services could lead to trade issues and difficulties with global changes. For example, without manufacturing, a country would struggle to produce necessary goods like machinery or electronics. Imports become crucial to supply items not produced domestically. Additionally, a balance between services and goods helps manage economic risks and supports job creation across various sectors. This diverse approach allows for better adaptation to economic shifts and global market demands. Having both services and goods ensures long-term economic stability and growth. Can you provide feedback on my classmate's reply? Thank you!
Can you guys help me on this? Thank you!
Here is the question:
Is it possible for a country's economy to be based entirely on services?
Here's my classmate's reply:
No, a country can’t rely only on services for its economy. Even those focused on services still need farming, manufacturing, and imports for essential items like food and products. Relying solely on services could lead to trade issues and difficulties with global changes. For example, without manufacturing, a country would struggle to produce necessary goods like machinery or electronics. Imports become crucial to supply items not produced domestically. Additionally, a balance between services and goods helps manage economic risks and supports job creation across various sectors. This diverse approach allows for better adaptation to economic shifts and global market demands. Having both services and goods ensures long-term economic stability and growth.
Can you provide feedback on my classmate's reply? Thank you!
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