Services can be classified into three types, viz.,
business, social and personal services. They are:
(i) Business Services: These are the services which are used by business enterprises for the management of their activities. For example, banking, insurance, transportation, warehousing and communication
services.
(ii) Social Services: These are those services that are usually provided willingly in pursuit of certain social achievements. These achievements may be to develop the status of living for weaker sections of society, to
present educational services to their offsprings, or to provide medical care and hygienic surroundings in slum areas. These services are normally provided but for some attention to cover their expenses. For example,
Medical care and educational services presented by some Non- government organisations (NGOs) and government bodies.
(iii) Personal Services: These services differ from person to person. They cannot be uniform in nature. They differ according to the service provider. They also rest upon the customer's choices and needs. For example, tourism, entertaining services, hotels. In the background of better understanding of the business world, we will be bounding our further talk to the first section of the service sector.