ABSTRACT
Before we actually talk about service, we have to briefly explore its macro background-the economy. In essence, the economy is about us (Marwala and Hurwitz, 2017a; Marwala and Hurwitz, 2017b; Marwala, 2013). In other words, the economy is an abstracted concept, which refers to the sum of all human production and consumption activities. What a nation’s economy produces is the sum of what everyone produces, while what a nation’s economy consumes is the sum of what everyone consumes, as illustrated in Eqs. 3.1 and 3.2 (Schiller et al., 2013).
