Knowledge economy

The knowledge economy is when people use their knowledge and skills to create goods or services they can sell. This is different from the traditional way of making money, which is from physical items like farming or making products. In the knowledge economy, people use their skills in a job or start their own businesses to make money. For example, a lawyer might charge for the legal advice they give, or a computer programmer might create an app and sell it. Because knowledge is so important, governments and companies are investing in education and training to help people be more successful in the knowledge economy.