Q:
What is the service sector?
A:
Quick Answer
The service sector is an umbrella term that describes any job that produces intangible value or goods. For example, a truck driver transporting food does not grow or harvest any food, but does provide value by bringing food to places to be eaten.
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Full Answer
Countries with large service sectors, like the United States, are typically more developed than countries that primarily rely on agriculture or industrial goods. Service jobs include a variety of manual labor jobs, such as waiters and truck drivers, as well as knowledge-based jobs like financial planning. While value in other sectors is measured in the amount of goods produced, success in the service sector can be measured by the value a customer received.
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