Service

In economics, a service comprises the non-material equivalent of a good[?]. Supplying skill[?], ingenuity and experience, providers of a service participate in an economy without the restrictions of carrying stock or the need to concern themselves with bulky raw materials. On the other hand, their investment in expertise does require marketing and upgrading in the face of competition which has equally few physical restrictions.

In a narrower sense, service refers to quality of servicing: the measured appropriateness of assistance and support provided to a customer. (This usage occurs frequently in retailing.)

Examples of economic services:

• data processing
• education provision
• financial services[?]
• consulting[?]
• health provision
• language translation and language interpretation

see also: marketing, product

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