ABSTRACT
The importance of services in national and global economies is increasing significantly. Oxford Living dictionaries define the word “service” as “the action of helping or doing work for someone”. The phrase “service industry” refers to economic activity that takes the form mainly of a personal service rather than a physical industrial commodity. This physical industrial activity is represented by a group of industries that provide goods commodities, for example, the agriculture industry, the manufacturing industry, the mining industry and the construction industry. The finance and insurance service sector includes businesses that provide or facilitate financial transactions and services related to the formation, liquidation or transfer of ownership of financial assets. Financial transactions in this sector are of two kinds: financial intermediation and underwriting annuities and insurance. This sector includes businesses that provide renting, leasing, selling, appraising or allowing the use of assets services, and has three subsectors: real estate, rental and leasing services, and lessors of non-financial intangible assets.
