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Question
Explain various types of services.
Answer in Brief
Solution
- Financial Services: Banks provide financial services to their customers. Accepting deposits and granting loans are examples of financial services.
- Personal Services: These services are rendered by beauty parlours, tailors, dry cleaners, etc.
- Insurance Services: These include life and non-life insurance services provided by different insurance companies, such as the UC, New India Assurance Co. Ltd, and so on.
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Meaning and Nature of Service
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