Sectors of Economy- Service
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Give example of productive services.Marks:1
Services that help in productive activities are known as productive services. For example: trading, transportation, communication, etc.
What do you mean by Service Sector?Marks:1
Service Sector is the sector where services are provided by individuals and businesses that are indulge in producing services rather than goods.The service sector includes trading, transportation and communication, financial, real estate and business services, personal services, etc…
What do you mean by Economic Services?Marks:1
Economic services are the services that directly contribute to the system of production and distribution of goods. These services help the system from inside. For example: trade, transportation, etc.
What do you understand by Social Services?Marks:1
Social services are the services that support the nation from outside. Like education and health, they contribute to the nation indirectly. They enhance the productivity and efficiency and thus, help the nation to prosper indirectly.
A service is a type of economic activity that is intangible, not stored and does not result in ownership of goods. For example: teaching is a service.