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Service refers to any intangible activity or benefit that one party offers to another, often in exchange for money, without resulting in ownership of anything physical. Services can range from professional offerings like healthcare, education, and legal advice to everyday conveniences such as transportation, banking, hospitality, and entertainment. A key characteristic of services is their intangibility, meaning they cannot be touched, stored, or possessed, and they are typically consumed at the point of delivery. Service quality often depends on human interaction, customer experience, and responsiveness, making it essential for providers to maintain consistency and personalization.
In the global economy, the service sector plays a crucial role in driving growth and employment. It encompasses a wide range of industries, including finance,…
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