Definition of Weightless economy:
The term "weightless economy" refers to the portion of the economy concerned with intangible products and services, such as software or professional services. Other terms, such as "post-industrial economy" or "new economy," are also used.
A term to describe a post-industrial economy that relies on information technology and telecommunications to produce high value output of exchangeable information, knowledge and other intangible goods. Information-based output contributes an increasing percent of gross national product and offers both emerging and developed economies a high potential for growth.
The concept of the weightless economy is based on the following fact: due to the rise of information technology, it is now possible to deliver products and services to large numbers of customers, and across large distances, without needing to manufacture or distribute those products and services using physical labour and machines.
How to use Weightless economy in a sentence?
- A weightless economy is one that is characterized by intangible products and services. Similar terms include "post-industrial economy" and "new economy.".
- The weightless economy is made possible by information technology and intellectual property laws. It enables new companies to bring products and services to market with relatively low upfront costs.
- For successful companies, the weightless economy can allow for very low marginal costs, which in turn allows for very high profit margins.
Meaning of Weightless economy & Weightless economy Definition