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  2. Service economy - Wikipedia

    en.wikipedia.org/wiki/Service_economy

    Virtually every product today has a service component to it. The old dichotomy between product and service has been replaced by a Service (economics) service–product continuum . Many products are being transformed into services. For example, IBM treats its business as a service business. Although it still manufactures computers, it sees the ...

  3. Service (economics) - Wikipedia

    en.wikipedia.org/wiki/Service_(economics)

    The service provider must deliver the service at the exact time of service consumption. The service is not manifested in a physical object that is independent of the provider. The service consumer is also inseparable from service delivery. Examples: The service consumer must sit in the hairdresser's chair, or in the airplane seat.

  4. Function as a service - Wikipedia

    en.wikipedia.org/wiki/Function_as_a_Service

    Function as a service (FaaS) is a category of cloud computing services that provides a platform allowing customers to develop, run, and manage application functionalities without the complexity of building and maintaining the infrastructure typically associated with developing and launching an app. [1] Building an application following this model is one way of achieving a "serverless ...

  5. Goods and services - Wikipedia

    en.wikipedia.org/wiki/Goods_and_services

    For example, a restaurant provides a physical good (prepared food), but also provides services in the form of ambience, the setting and clearing of the table, etc. Although some utilities, such as electricity and communications service providers , exclusively provide services, other utilities deliver physical goods, such as water utilities .

  6. Tertiary sector of the economy - Wikipedia

    en.wikipedia.org/wiki/Tertiary_sector_of_the_economy

    In examining the growth of the service sector in the early nineties, the globalist Kenichi Ohmae noted that: In the United States, 70 per cent of the workforce works in the service sector; in Japan, 60 per cent, and in Taiwan, 50 per cent. These are not necessarily busboys and live-in maids. Numerous of them are in the skilled category.

  7. Public good (economics) - Wikipedia

    en.wikipedia.org/wiki/Public_good_(economics)

    An example of locally public good that could help everyone, even ones not from the neighborhood, is a bus service. If you are a college student who is visiting their friend who goes to school in another city that has bus service, you get to benefit from this bus service just like everyone that resides in and goes to school in said city.

  8. Marshallian demand function - Wikipedia

    en.wikipedia.org/wiki/Marshallian_demand_function

    In some cases, there is a unique utility-maximizing bundle for each price and income situation; then, (,) is a function and it is called the Marshallian demand function. If the consumer has strictly convex preferences and the prices of all goods are strictly positive, then there is a unique utility-maximizing bundle.

  9. Standard of deferred payment - Wikipedia

    en.wikipedia.org/wiki/Standard_of_deferred_payment

    It is the function of being a widely accepted way to value a debt, thereby allowing goods and services to be acquired now and paid for in the future. [ 1 ] The 19th-century economist William Stanley Jevons , influential in the study of money, considered it to be one of four fundamental functions of money, the other three being medium of ...