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Services constitute over 50% of GDP in low income countries and as their economies continue to develop, the importance of services in the economy continues to grow. [2] The service economy is also key to growth, for instance it accounted for 47% of economic growth in sub-Saharan Africa over the period 2000–2005 (industry contributed 37% and agriculture 16% in the same period). [2]
Taken together, it is the production, distribution, and consumption of goods and services which underpins all economic activity and trade. According to economic theory , consumption of goods and services is assumed to provide utility (satisfaction) to the consumer or end-user, although businesses also consume goods and services in the course of ...
In sociology, social psychology (also known as sociological social psychology) studies the relationship between the individual and society. [1] [2] Although studying many of the same substantive topics as its counterpart in the field of psychology, sociological social psychology places relatively more emphasis on the influence of social structure and culture on individual outcomes, such as ...
In sociology, the post-industrial society is the stage of society's development when the service sector generates more wealth than the manufacturing sector of the economy. The term was originated by Alain Touraine and is closely related to similar sociological theoretical concepts such as post-Fordism , information society , knowledge economy ...
The sociology of consumption is a field within sociology specifically about the social, economic, and cultural dimensions of consumer behavior. It studies how and why individuals and groups acquire and use goods and services in a given society, as well as the cultural meanings and social norms associated with these practices.
The "material product" represented, in price terms, the net new value created annually by the production of tangible material goods. Many service industries were excluded from the material product; a rigorous statistical attempt was made to separate out a productive sector and an unproductive sector. Enterprise managers could be punished by law ...
Service industries are those not directly concerned with the production of physical goods (such as agriculture and manufacturing). Some service industries, including transportation , wholesale trade and retail trade are part of the supply chain delivering goods produced in the agricultural and manufacturing sectors to final consumers.
Free-riding is experienced when the production of goods does not consider the external costs, particularly the use of ecosystem services. An example of this is global climate change initiatives. As climate change is a global issue and there is no global regime to manage the climate, the benefits of reduced emissions in one country will extend ...