Services

Services refer to activities or benefits that one party offers to another, typically involving the provision of labor, expertise, or support rather than the transfer of physical goods. These can include a wide range of activities such as professional services (e.g., consulting, legal, healthcare), personal services (e.g., cleaning, catering), and technical services (e.g., IT support, maintenance). Services are characterized by their intangibility; they cannot be touched or owned in the same way that physical products can be. Additionally, services are often produced and consumed simultaneously, meaning that the interaction between the service provider and the customer is integral to the experience and outcome. As a result, the quality of a service can be influenced by factors such as the provider’s skills, the environment in which the service is delivered, and the relationship between the provider and client. In economics, services play a significant role in both employment and GDP, reflecting their key position in modern economies.