The maintenance contract offered by sears on its Kenmore refrigerators, dishwashers, and microwaves is an example of a(n) service.
A service is "an act or use for which a consumer, business, or government is willing to pay." Examples include work by hairdressers, doctors, lawyers, mechanics, banks, insurance companies, etc. Public services are paid for by society as a whole.
Definition and Meaning of
. Services, as opposed to goods, are the non-physical, intangible part of the economy that we can touch and deal with. Services such as banking, education, health care, and transportation make up a large part of the economies of rich countries.
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