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service

an economic activity which is performed to meet a personal or business demand. Some services are either specifically personal (for example hairdressing, dentistry), or business (for example factory maintenance, freight forwarding), but a large number are multifaceted, catering for both sectors, for example, household and industrial painting, telephone services.

The provision of most services (for example, window cleaning) involves a number of characteristics which set them apart from the provision of a GOOD (for example, a motorcar), in particular intangibility - the inability of a customer to see, touch, taste or smell the service, and inseparability - the fact that services are produced and consumed at the same time and thus cannot be stored. See also MARKETING MIX, GAP ANALYSIS. See PRODUCT, PERISHABILITY, VARIABILITY.

Collins Dictionary of Business, 3rd ed. © 2002, 2005 C Pass, B Lowes, A Pendleton, L Chadwick, D O’Reilly and M Afferson

service

any intangible economic activity (hairdressing, catering, insurance, banking, etc.) that contributes directly (see FINAL PRODUCTS) or indirectly (see INTERMEDIATE PRODUCTS) to the satisfaction of human wants. Services are an important component of GROSS NATIONAL PRODUCT.
Collins Dictionary of Economics, 4th ed. © C. Pass, B. Lowes, L. Davies 2005
References in periodicals archive ?
It saw service in the First and Second World Wars, before being sent to fight in the war in Korea and then Aden, which is now in Yemen, where nine of its soldiers were killed in an ambush in 1967.
But storage space is needed for the railway buffs to work on the locomotive that first saw service on the tracks more than 40 years ago.
A Chinese businessman has made a pounds 5m bid to buy the carrier which saw service during the Falklands War and the Gulf and Iraq wars, from the Ministry of Defence.
The original Goriunov was developed in WWII as a replacement for the Maxim and saw service throughout the Communist world.
In his career in the forces, he held a succession of command appointments and saw service in Northern Ireland, Bosnia, Rwanda, Kosovo, Sierra Leone, Afghanistan and Iraq.
Henry joined the Royal Naval Air Service and saw service at the Battle of Jutland in 1916.
While their career trajectories are diverse, all but one, as it happens, are from East Coast newspapers, and four of the seven saw service with Gannett.
Trade and investment interests in postings that ranged from Paris and Milan, to Rome, Santiago and Geneva, she also saw service in Bogota during the Columbian revolution, attacks on the U.S.
Whitcomb and his regiment saw service in Kansas, at Vicksburg, Jackson, Natchez, and the Meridian Campaign in Mississippi, Kennesaw Mountain, Nickajack Creek, the battle of Atlanta in Georgia.
Verton includes his recruitment, training, and frontline service experiences as he saw service with the 5th SS Panzer Division 'Wiking" and then later with the SS Regiment Besslein.
The movie recounts how Bond won his licence to kill, which saw service as stars Sean Connery, left, RogerMoore and Pierce Brosnan all played Ian Fleming's agent 007.