. T YPES OF S ERVICES When speaking of the service sector, services can be classified into three broad categories, viz., business services, social services and personal services. These have been explained in the following pages. (i) Business Services: Business services are those services which are used by business enterprises for the conduct of their activities.
For example, banking, insurance, transportation, warehousing and communication services. B S G N ti A ll w .t j A tt H H tili ffi ffi D li itt ffi D llifl li tili tl S - S rf k k C j ir x k k C k j P j -fl ir Difference between Services and Goods An Introduction to the GATS The agreement on trade in services reached in the Uruguay Round is perhaps the most important single development in the multilateral trading system. The new General Agreement on Trade in Services (GATS) for the first time framed internationally agreed rules and commitments, broadly comparable with those of the General Agreement on Tarrif and Trade (GATT). The most important element of GATS is the classification of services used in making commitments.
The GATS schedule largely follows a classification, which identifies basic service sectors (plus a twelfth category for miscellaneous services). These sectors are subdivided into some subsectors or separate service activities. As an example, the tourism category breaks down into subsectors for hotel and restaurants. The twelve sectors are: .
Business services (including professional and computer) . Communication services . Construction and related engineering services . Distribution services .
Educational services . Environmental services . Financial services (Insurance and Banking) . Health related and social services .
Tourism and travel related services . Recreational, cultural and sporting services . Transport services and . Other services not included elsewhere (ii) Social Services: Social services are those services that are generally provided voluntarily in pursuit of certain social goals.
These social goals may be to improve the standard of living for weaker sections of society, to provide educational services to their children, or to provide health care and hygienic conditions