Service industries include everything else: banking, communications, wholesale and retail trade, all professional services such as engineering, computer software development, and medicine, nonprofit economic activity, all consumer services, and all government services, including defense and administration of justice.

What means service industry?

Definition: A service industry is an economic segment that provides certain intangible activity that fulfills a particular need. Companies within this industry perform tasks that are useful to their customers.

What are the types of service industry?

These include IT and ITeS, Tourism and Hospitality Services, Medical Value Travel, Transport and Logistics Services, Accounting and Finance Services, Audio Visual Services, Legal Services, Communication Services, Construction and Related Engineering Services, Environmental Services, Financial Services and Education …

What are the 2 types of service industries?

He’s just providing the service of crafting these materials into a finished room. When speaking of the service industry, it is usually broken down into three categories. They are consumer services, business services, and public services.

What is the role of service industry?

Service sector provides finance, marketing, transport, insurance for the development of the agriculture sector. The expansion of service sector activities boost the secondary sector activities as well. Service sector can play a major role in reducing inequalities in the distribution of income in the economy.

What are the six types of service industries?

The service-producing sector includes the divisions of (1) transportation, communications, and utilities; (2) wholesale trade; (3) retail trade; (4) finance, insurance, and real estate; (5) public administration; and (6) services.

What is primary sector give an example?

The primary sector of the economy includes any industry involved in the extraction and production of raw materials, such as farming, logging, hunting, fishing, and mining.