service

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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.

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.
References in periodicals archive ?
Seasonal trend of calving and subsequent service period in Buffaloes.
Currently, under Opinion 25 and a related FASB interpretation, employers recognize compensation cost by reflecting changes in the intrinsic value of the option over the service period in their earnings statements, and they recognize a corresponding liability.
For example, if all employees receive the same medical coverage on disability--regardless of their length of service--medical benefits for disabled employees are accrued at the date of disablement and not over the employee's service period.
The aggrieved Punjab Government moved to Supreme Court against the Lahore High Court and the court comprising Justice Tasadduq Hussain Gilani and Justice Sarmad Jalal Usmani Thursday upheld the decision by dismissing appeal and observed that service period of substantive post of Educator must be counted into total length of service and entitled the petitioner to avail 10 per cent quota reserved for those who had rendered five year service against substantive post.
Excluding from benefit obligations death benefits actuarially expected to be paid during the active service period of participants.
com), RW and its affiliated entities and persons may purchase and hold positions in the securities of its clients, but they are prohibited from selling any securities of a RW client during the RW service period to such client.
During the winter service period, from October 1st to April 30th, the proxy is responsible for the proactive execution of these tasks.
The service period of these employees encompasses different years.
Judicial Commission had recommended for induction of one judge of IHC on permanent basis and extension in service period of another judge of IHC.
According to the FASB, the transition obligation would be amortized to expense over future years on a straight-line basis over the average remaining service period (to the date of expected retirement) of active employees expected to receive a benefit.
Crossroads recognizes these compensation costs on a straight-line basis over the requisite service period of the award, which is generally the option vesting term of four years.

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