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 ?
I would like to clarify to the questioner that the service period shall be calculated from the day on which the worker joined work with the company regardless of the date the employment visa was stamped.
Two out of 5 veterans served during the World War II (December 1941 to December 1946), Korean War (July 1950 to January 1955), and Vietnam-era (August 1964 to April 1975) conflicts; about 1 in 6 served during the Gulf War-era I period (August 1990 to August 2001); nearly 1 in 5 served during the Gulf War-era II period (September 2001 to present); and 1 in 4 served during other service periods (all other time periods).
The least square means, significance, and multiple comparison test results for gestation length, duration of service period, calving interval, number of insemination per pregnancy, and age at first calving of the Simmental cows are presented in Tables 1 and 2.
The service period shall be deemed successfully completed if the employment was under probation.
The agreement ensures equal treatment of Syrian and Czech citizens in the area of social security including old age pensions, work injuries, disabilities and compensations It provides new services for citizens who worked in one country and moved to continue their work in the other such as combining service period and getting a pension salary that fits with the total period of work in both countries.
'It has a minimum service period for the hire of the equipment of 12 months and is renewable thereafter.
The animals were grouped according to parity number (1-3), service period (G1 to G4, conceiving during <150, 150-200, 200-300 and >300 days post calving) and yield levels (HMY>2,500; MMY 2,001-2,500; and LMY 1,500-2,000 liters/lactation).
He or she is protected from termination without cause for 180 days after the date of re-employment if the military service period was more than 30 days but less than 181 days.
As the probability of targets being met changes, so can the compensation cost, which creates the potential for significant earnings variability, particularly near the end of the service period.
123(R), Share-Based Payment (revised 2004), the total compensation cost to the employer is measured as of the grant date and recognized over the service period (usually the vesting period).
If a plan of involuntary termination requires that employees render future service in order to receive benefits, the employer should recognize a liability and expense for the portion of involuntary termination benefits that will be provided after completion of future service ratably over the employees' future service period, beginning when the plan otherwise meets the recognition criteria discussed above.
Companies engaging in share-based arrangements with employees recognize the cost of services received over the requisite service period, while entities engaging in share-based arrangements with nonemployees recognize the cost of goods acquired or services received.

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