Term of the Day service


Term of the Day

service

A type of economic activity that is intangible, is not stored and does not resultin ownership. A service is consumed at the point of sale. Services are one of the two key components of economics, the other being goods. Examples of services include the transfer of goods, such as the postal service delivering mail, and the use of expertise or experience, such as a person visiting adoctor.
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Usage Example
Successful marketing methods will turn a customer’s needs into a desire for your product or service.
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