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Services are products that offer mostly intangible value. These represent the bulk of the GDP of developed nations due to a long term economic trend known as service economy whereby physical products represent a smaller portion of economic activity with each passing decade. At present, around 65% of world GDP is the value added by services†. The following are common examples of services.
Accounting Services | Agents & Brokers | Banking | Business Services | Cafes | Catering | Childcare | Cleaning Services | Cloud Computing | Clubs | Construction | Consulting | Content Subscriptions | Creative Services | Customization of Products | Data Services | Delivery | Design Services | Ecommerce | Electricity | Entertainment | Environmental Remediation | Events | Financial Services | Gyms | Hospitality | Hotels | Information Security Services | Information Services | Information Technology Services | Infrastructure | Insurance | Investment Banking | Investment Products (e.g. Mutual Funds) | Lab Services | Landscaping | Leasing | Legal Services | Maintenance | Manufacturing as a Service | Markets | Media | Media Production Services | Medical Services | Mobile Apps | Movies | Music | Nightclubs | Online Platforms | Outsourcing | Payment Services | Personal Services | Private Schools | Product as a Service | Professional Services | Public Services | Pubs | Renovation Services | Rentals | Repair | Restaurants | Retail | Social Media | Software Services | Spas | Sports Facilities | Standards & Certifications | Streaming Media | Subscription Boxes | Technology Platforms | Telecom Services | Theme Parks | Tours | Training | Transportation (Freight) | Transportation (Passenger) | Travel | Utilities | Video Games | Waste Management |
Consumer ServicesServices that are primarily designed for individuals and households.Personal ServicesConsumer services that are tailored to each individual. These are typically labor intensive services that are completely customized to your preferences.Professional ServicesServices that provide access to skilled professionals such as doctors, engineers or lawyers.Media ServicesServices that create or distribute content such as entertainment, art, information, news and interactive experiences.Cultural ServicesServices related to culture such as art, dance, nightlife, performance art, music and historical sites.Business ServicesBusiness services including areas such as technology, logistics, outsourcing, consulting and management services.Financial ServicesServices related to money and other assets.Technology ServicesTechnology services including business services such as cloud infrastructure and consumer services such as streaming media.Public ServicesServices that are provided by a government because they are deemed to be important to quality of life or economic efficiency.Educational ServicesServices that provide learning opportunities. These are often a mix of public and private services with offerings from both government and private institutions.UtilitiesEssential services that governments often regulate or provide to ensure that everyone gets service at a reasonable price.DiscussionPublic services are services provided by a government. As with the private sector, governments are shifting towards a service model. Infrastructure such as a road, bridge or internet connection can be viewed as a service.Some of the examples above are sold as both physical products and services. For example, a video game that is sold a cartridge and as a software download.Product as a service offers a good that is traditionally sold as a product as a subscription service. For example, a city that offers convenient bicycle rentals billed by the minute at a very low rate.Next: Types of Services
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References† World Bank national accounts data, and OECD National Accounts data files.
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