Service provider
Topic: Sectors of the Indian Economy · NCERT: Class 11, Ch 8 "Use of Statistical Tools"
Meaning
A service provider is someone who provides a service to others in return for payment. Service providers do not produce a physical good. They work in the tertiary sector, also called the service sector. Their service either helps production or meets people's needs directly.
Example
A barber who cuts hair for ₹100, a doctor who charges a consultation fee, a bank that charges for its services and a courier firm that delivers parcels are all service providers.
Don't confuse with
- Selfless service (sevā): a volunteer serving food at a langar also gives a service, but takes no payment. That is non-economic activity. A service provider is paid.
Related concepts
- Primary sector
- Secondary sector
- Tertiary sector
- Natural products
- Manufactured goods
- Manufacturer
- Industrial divisions
- Quaternary sector
- Quinary sector