A service is a business that ‘serves’ its customers.
It would purchase its products or service from manufacturers or retailers and then increase the prices to accumulate profit.
A good example of a service is a petrol station. A petrol station would have its petrol delivered by its very own petrol company’s
e.g. BP or Shell, and would increase the price of its petrol per litre. Petrol stations also sell other items e.g. newspapers,
food, drinks. These products would be purchased by retailers such as shopping centres etc. Unfortunately, these products would
not sell as much because they have increased the retail price to gain profit, not the manufacturing price. I.e. people would
just go by these products from the retailers.