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Topic: Business
Number of pages / Number of words: 2 / 448
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Definition: Service

Any act of performance that one party can offer another that is essentially intangible and does not result in the ownership of anything; its production may or may not be tied to a physical product. Dominant component is intangible.

US is the world’s first service economy. More than 75% of the workforce in the private sector is employed in the service industry...


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Definition: Service

Any act of performance that one party can offer another that is essentially intangible and does not result in the ownership of anything; its production may or may not be tied to a physical product. Dominant component is intangible.

US is the world’s first service economy. More than 75% of the workforce in the private sector is employed in the service industry...


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