The growth rate for service companies is much higher than the growth rate for companies that are selling products.

Question

Quizplus · Accepted Answer

This is generally true as service companies tend to have lower overhead costs and can scale up their operations more easily compared to companies that are selling physical products. Additionally, the demand for services such as IT consulting, healthcare, financial advisory, and other professional services has been steadily increasing over the years, making it a lucrative industry to be in.

The Growth Rate for Service Companies Is Much Higher Than