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A service is an intellectual function or advantage that one person can provide to another. It does not result in the possession of something. Its development may or may not be linked to the creation of a physical object. In recent years, the service industry has been one of the fastest expanding industries in several nations. That's why it is important in any country's economy. The significance of the finance sector in many nations may be assessed first by the percentage of the total population that would be directly employed in the service sectors.
Around 80% of the population in Australia and other industrialized nations is employed in the service industry. In most economies, the service economy is expanding at a rapid pace. In several nations, the average annual employment and grass production compound growth figures in this industry are increasing. Not only that, but the service industry contributes to the yearly rise in exports of many industrialized countries.
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