Knowledge Economy
A knowledge economy pertains to an economic system where wealth creation and economic growth are primarily driven by the generation, dissemination, and application of knowledge and information. This includes industries that rely heavily on intellectual capabilities and innovation, such as technology, research and development, education, and professional services. In a knowledge economy, the value of goods and services is often based on intangible assets like knowledge, skills, and expertise, rather than physical resources or labor. This shift towards knowledge-based industries has become increasingly prevalent in modern economies as technology and globalization continue to reshape the way businesses operate and compete.