HTH 102 Lecture 4: 1-4

• School: Ryerson University
• Department: Hospitality and Tourism Management
• Course: HTH 102
• Professor: Chris Gibbs

Document Summary

The service economy service: an act/ a process representing a form of economic exchange services: intangible units of output/ activities which in a commercial sense are offered for sale or as part of a sale. Depends on service-based infrastructure: transportation, communication, education, health care and various government services (law enforcement, utilities, garbage collection) 20th century, industrialization social and economic transformation due to advanced technology which increase rate of spending of services. Prosperity = increase in service infrastructure service-oriented activities: offering services directly to the customer/ business operations. Personal income increasing increase in family income affect personal spending behavior. Percentage of income spend on food decreases. Percentage of income spent on housing and household operation remains constant. Percentage of income spent on other purchase (education, transportation, recreation, health care and entertainment) increases rapidly. Growth in the service sector service sector growing in size and importance.