Written by the Fiveable Content Team • Last updated September 2025
Verified for the 2026 exam
Verified for the 2026 exam•Written by the Fiveable Content Team • Last updated September 2025
Definition
Services refer to intangible activities performed by one person (or organization) for another person's benefit.
Related terms
Customer Service: Customer service refers to the assistance and support provided by a company or organization to its customers before, during, and after purchasing their products or services.
Service Industry: The service industry comprises businesses that primarily provide services rather than tangible goods. Examples include healthcare, hospitality, transportation, and education.
Professional Services: Professional services are specialized occupations that require expertise in a specific field, such as legal advice, medical care, consulting, or accounting.