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service

definitions

  1. A product that is not embodied in a physical good and that typically effects some change in another product, person, or institution. Contrasts with good. Trade in services is the subject of the GATS.

  2. To make the scheduled payments on a debt, usually including both interest and amounts towards repayment of the principal. See debt service.

Related Terms

 • labour force  • panda  • value chain  • sale  • commitment  • oncosts  • firm  • cost centre
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