chapter  5
10 Pages

The service economy

An important part of modern economic development is within the service sector, including retailing and the sale of goods to the public, but also the provision of services of all kinds, some of which were treated in the previous chapter as social provision-education, health, and welfare in general. Another set of services for individuals and families is in retailing, and the provision of leisure services, recreation, health and beauty, and tourism. All these are experiencing growth in countries with advanced economies, but a still more central feature to current development has been identified as the services provided for firms, called business services or producer services.