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What is difference between goods producing industries and service producing industries?
Wiki User
∙ 15y ago
Goods are typically tangible items, For example, produce, lumber, TVs, other home appliances, department stores etc. Services might include, house cleaning, landscaping, insurance companies, etc. In other words they are providing a service for a fee.
Wiki User
∙ 15y ago
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Why do you think service-producing industries are growing faster than goods-producing industries?
Service producing industries are growing faster because they have a lower overhead. With a lower overhead, they can reinvest the excess money.
What is the difference between service and production industries?
What could be seen as the difference is that the service industries are respondsible for d production of services for human both tangible and intangible service while production industries are responsible for invention of both goods and services to satisfy human unlimited wants
Why are service-producing industries growing more rapidly then good-producing industries?
Because people are going with a more sedintary lifestyle and are getting fatter and lazier by the minute which is why we want everyone else to do it for us
What is the difference between goods producing and service businesses?
Goods producing business - DUNKIN DONUTS produces coffee and donuts. There is something tangible (that you can see, feel, touch, eat, or walk out of the store with it in your possession).Service producing - Certified Public Accountants produce a service by giving advice, and sometimes doing a person's taxes.Then there are combination businesses - for exampleA service part of a car dealership - they provide cars - so that's when they are goods producing.They provide service - when they inspect and service your car. They can suggest oil changes, or filter changes, or adjust the brakes, or the engine.
What is the difference between service industry and industry in economy?
Industry is a fairly generic term, but is most commonly used as a substitute term for a manufacturer of goods such as Pepsi or Ford. The term industry can also be used to refer to a very specific group of companies. For example, the financial industry, entertainment industry, and the service industry.The service industry is essentially non-good producing industries such as retail trade, wholesale trade, and the service industries. According to the U.S. Census Bureau, these companies make up 70% of the total economic activity in the United States. Good examples of the service industry include health care, hospitality & accommodations, and real estate. The financial and insurance sectors would also be included within the service industry.In economic terms, the differences are essentially the same. This is obviously a little simplistic, but check out Google Finance or any financial site under the Sector Summary to see how each of the "industries" are broken down for the purpose of comparison and reporting.
Why do you think service-producing industries are growing faster than goods-producing industries?
Service producing industries are growing faster because they have a lower overhead. With a lower overhead, they can reinvest the excess money.
What is the difference between service and production industries?
What could be seen as the difference is that the service industries are respondsible for d production of services for human both tangible and intangible service while production industries are responsible for invention of both goods and services to satisfy human unlimited wants
What is the name of business that provides services to people rather than producing goods?
service industries
Why are service-producing industries growing more rapidly then good-producing industries?
Because people are going with a more sedintary lifestyle and are getting fatter and lazier by the minute which is why we want everyone else to do it for us
What is the difference between hospitality and service travel in the tourism industry?
What is difference between service and hospitality industries? It is the difference between technical (protocol, procedure) and emotional (intimate connection, empathy). For service, "technical." For hospitality, "emotional." I can write what extraordinary service is, but extraordinary hospitality is harder to come by. It is a process of making people believe "I'm on your side." Does that help describe the difference? I believe all hospitality establishments provide service, but not all services provide hospitality.
What is the difference between customer delight and customer service?
•difference between service and delight
What is difference between desired service and adequate service?
the difference between the two is the zone of tolerance
What is the difference between service provider and network provider?
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What's the difference between civil service and public corporation?
Difference between Public Corporation and Civil Service
What is the difference between serve and service?
serve and service
What is the difference between a self service business and a self selection business?
What is the difference between a self service and a self selection
What is the difference between customer service standard's policies and procedures?
Difference between Customer Service Standards and Policies and Procedures
