ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -A service business is a business that performs tasks on behalf of its client. The main selling point of all service businesses is that they save their clients time. Many service businesses also perform tasks to a higher standard than their clients could do themselves.

Detailed explanation-2: -Examples of pure service businesses include airlines, banks, computer service bureaus, law firms, plumbing repair companies, motion picture theaters, and management consulting firms.

Detailed explanation-3: -A service business is a company that performs tasks for the benefit of their customers. These tasks can include transportation, cleaning, traveling, hospitality, maintenance or consulting.

Detailed explanation-4: -For example, the real estate business, advertising business, or mattress production business are examples of industries. Business is a term often used to indicate transactions regarding an underlying product or service.