Tertiary sector of the economy

Services (also known as "intangible goods") include attention, advice, access, experience and affective labour.

The tertiary sector involves the provision of services to other businesses as well as to final consumers.

These governmental classification systems have a first-level of hierarchy that reflects whether the economic goods are tangible or intangible.

[3]Economies tend to follow a developmental progression that takes them from heavy reliance on agriculture and mining, toward the development of manufacturing (e.g. automobiles, textiles, shipbuilding, steel) and finally toward a more service-based structure.

Historically, manufacturing tended to be more open to international trade and competition than services.

However, with dramatic cost reduction and speed and reliability improvements in the transportation of people and the communication of information, the service sector now includes some of the most intensive international competition, despite residual protectionism.

Services are intangible, making it difficult for potential customers to understand what they will receive and what value it will hold for them.