Written by the Fiveable Content Team โข Last updated September 2025
Verified for the 2026 exam
Verified for the 2026 examโขWritten by the Fiveable Content Team โข 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.