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Services

Date Added: October 19, 2008 08:22:11 PM
Author: M Gravlee
Category: Services
The service industry is becoming a major part of the American economy as businesses begin to move their manufacturing companies overseas. The service industry includes food, health care and consumer sales industries, each of which is highly valued in the nation. Also considered to be a part of the services industry are education and public utility services.

The evolution of a service based economy has been seen in many countries around the world. Typically, a country will spend some time in other phases of development such as manufacturing before they move on to become a service based country.

Food Industry

The food industry is a vast multi-million dollar industry that is part of the daily life in America. Millions of people choose to use fast food and fine dining services for their meals at least occasionally. The food industry employs hundreds of thousands of Americans every year including chefs and servers.

Medical Industry

The medical industry is also represents a vast number of entries in the services related area. There are several different branches of medical services which operate in the U.S., including private practices, pharmacies and hospitals. Nearly every nation has a healthcare system in place even if the standards are sub-par and the needs of the community are not being properly met.

Educational Services

Education in most countries with a service based economy includes a public education up to at least the twelfth grade which is paid for through public funds. Some countries with a service based economy include higher education in their plan for education although certainly not all do.

In America, a basic education is required by law. Some smaller or less economically stable countries do not require an education or only require a six year education for their children.

Public Services

Most public services such as utility companies are considered part of the service industry as well. This is because the utility companies provide a service to the people in the community such as city water and electricity.

Some utility companies are owned as a co-op or cooperative since the community has a small share in the company by paying for the services that are rendered. While rarely found in America other countries often use a non-profit company to sell utilities to the public.

The Retail Industry

The retail industry for the most part is also a service industry. Anyone who sells goods or provides a service to the public is considered a part of the service industry. Even though the manufacturing of a product is not part of the service industry selling those goods is.

The retail industry in America is one of its largest contributors to the economy. Anything you buy from a local shop or even online contribute to this industry either directly or indirectly.

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