In economic and business terminology, a service is broadly defined as an intangible economic activity, task, or performance provided by one party to another in exchange for money, time, or value. Unlike physical manufactured goods, services result in no permanent physical transfer of ownership. Common examples include healthcare treatments, legal counsel, educational instruction, financial advice, hospitality lodging, and transportation, all of which fulfill specific consumer or business needs through specialized labor, professional expertise, and intangible utility.