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SS2 Third Term Economics Lesson Note – Service Industries

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WEEK 10

TOPIC: SERVICE INDUSTRIES

CONTENT:

Meaning of service industries
List of service industries
Contribution of service industries to development

Sup-Topic 1: SERVICE INDUSTRIES

The service industries involve the provision of services to business as well as to final consumers. It can also be called tertiary sector of industry. Services involved doing something for the consumers, which could be personal or indirect services. Service industries are: tourism, transport, banking, insurance, warehousing, and advertisement.

Sup-Topic 2: TYPES OF SERVICE OCCUPATION

Service industry can be divided into direct and indirect service.

Direct Service: This includes personal services rendered for direct consumption and are paid for directly by those who enjoy the service. Those who engage in this form of services are: housemaids, stewards, entertainers, barbers, family doctors, lawyers in private practice, etc.
Indirect Service: Indirect service includes services rendered to the general public but they are not paid for by the members of the public directly. The government will pay from taxes and levies paid by the public. Therefore, those involved render indirect services and are paid indirectly by the public, e.g., doctors working in public hospitals, police force, soldiers, customs officers, civil servants, law makers, etc.

Sub-topic 3: ROLES OR CONTRIBUTIONS OF THE SERVICE INDUSTRY TO ECONOMIC DEVELOPMENT

Service industry provides employment opportunity through its activities in trading, banking, transportation, communication, etc.
Service industry generates revenue for government and people who are engaged in the industry.
Service industry aids trade through its communication, transportation, banking, etc

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