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What is the difference between service industry and industry in economy?
Wiki User
∙ 16y ago
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.
Wiki User
∙ 16y ago
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What service industry is an important part of the Swiss economy?
tourism
What is the difference between Public Service Broadcasting and Public Broadcasting Service?
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What do you mean by industery?
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What is difference between service industry and retail industry?
The retail industry is exchanging money for goods while the service industy does not provide physical goods rather money for the service that the professional is providing, i.e. retail examples; store clerks, salesperson service examples; carpet cleaners, teachers
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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 importance of the service industry to the national economy?
Service industries are important to the economy because they provide many jobs for people. This industry is also important because it gives people time off of their regular day, which relieves stress.
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
How has the UK economy changed in the last 50 years?
It has changed from being a manufacturing led economy to being a service industry and financial centre led economy.
What is the differnece between a service industry and manufacturing?
A service industry provides a service like lawn care, manufacturing is a factory producing goods.
