What are Economic Services ? Examples and More 2024

Last updated on August 5th, 2024 at 06:17 pm

1. Economic services are identify as services for which consumer, company, or government pays for.
2. These services include work done by barbers, doctors, lawyers, mechanics, banks, and insurance companies.
3. Whereas Public services are services paid for by society as a whole, like by a country or region.
4. These Service providers use resources, skills, creativity, and experience to benefit those who use their services.
5. These Services are acts or performances that provide value to the customer and are not physical items.

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Examples of Economic Services

1. Banking Services which include services like savings accounts, loans, and money transfers.
2. Insurance Policies.
3. Managing investments, stocks, and retirement funds generally comes in Investment Services.
4. Accounting Services for Financial recording, tax preparation, and audits.
5. Real Estate Buying, selling, and managing properties.
6. Consulting services which include expert advice in areas like business, finance, and management.
7. Transportation Services like shipping, cargos, logistics.
8. Healthcare and Medical services provided by doctors, hospitals, and clinics.
9. Education industries which has roles like teaching , learning and personality building.

Here are some of the best companies known for providing various economic services:

Financial Services

1. JPMorgan Chase & Co.
2. Goldman Sachs.
3. Berkshire Hathaway.
4. Vanguard.
5. American Express.

Healthcare Services

1. UnitedHealth Group – Health insurance and health services.
2. Kaiser Permanente – Integrated managed care consortium.
3. CVS Health – Pharmacy services and health care provider.
4. Mayo Clinic – Nonprofit medical practice and medical research group.
5. Pfizer – Pharmaceuticals and health products.

Education Services

1. Pearson – Education materials and learning technologies.
2. Coursera – Online learning and education platform.
3. K12 Inc. – Online education programs for K-12 students.
4. Udacity – Online courses and nanodegree programs.
5. Kaplan – Test preparation and higher education programs.

Legal Services

1. Baker McKenzie – Multinational law firm.
2. DLA Piper – Global law firm.
3. Kirkland & Ellis – Corporate law and litigation.
4. Skadden, Arps, Slate, Meagher & Flom LLP – Legal services across various domains.
5. Latham & Watkins LLP – Full-service international law firm.

Transportation Services

1. FedEx – Courier delivery services and logistics.
2. United Parcel Service (UPS) – Package delivery and supply chain management.
3. DHL – International express mail and logistics services.
4. Maersk – Container shipping and logistics.
5. Uber – Ride-sharing and transportation services.

Professional Services

1. McKinsey & Company – Management consulting.
2. Accenture – Consulting, technology services, and outsourcing.
3. Deloitte – Audit, consulting, and financial advisory.
4. PricewaterhouseCoopers (PwC) – Professional services network.
5. Ernst & Young (EY) – Assurance, tax, consulting, and advisory services.

Hospitality and Tourism Services

1. Marriott International – Hotels and lodging.
2. Hilton Worldwide – Global hospitality company.
3. Expedia Group – Travel booking and services.
4. Airbnb – Online marketplace for lodging and tourism experiences.
5. Carnival Corporation – Cruise line operator.

Information Technology Services

1. IBM – IT consulting and services.
2. Microsoft – Software, services, devices, and solutions.
3. Amazon Web Services (AWS) – Cloud computing and IT infrastructure.
4. Oracle – Cloud applications and platform services.
5. Cisco Systems – Networking hardware and telecommunications equipment.

Utility Services

1. Exelon Corporation – Energy generation and distribution.
2. Duke Energy – Electric power and natural gas.
3. National Grid – Electricity and gas utility services.
4. American Water Works – Water and wastewater services.
5. Southern Company – Gas and electric utility services.

Personal Services

1. The Walt Disney Company – Entertainment and media.
2. Procter & Gamble – Consumer goods including personal care.
3. Planet Fitness – Fitness and wellness services.
4. Massage Envy – Massage and skin care services.
5. Great Clips – Hair salon services.

Real Estate Services

1. CBRE Group – Real estate services and investment.
2. Jones Lang LaSalle (JLL) – Professional services and investment management.
3. Keller Williams Realty – Real estate franchise.
4. Cushman & Wakefield – Real estate services and consultancy.
5. Brookfield Asset Management – Real estate investment and management.