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Evaluate the role of the service sector in the late Victorian and Edwardian periods.
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Evaluate the role of the service sector in the late Victorian and Edwardian periods. Services can be organised, by the International Standard Industrial Classification, into four types: wholesale and retail trade, hotels and restaurants; transport, storage and communication; finance, real estate, insurance and business services and community, social and personal services. Adam Smith noted that, contrary to commodities, services rendered "generally perish in the very instant of their performance, and seldom leave any trace or value behind them for which an equal quality of service could afterwards be procured". This characteristic makes the service industries difficult to measure in the way that commodities like steel or wheat are valued, especially as services tend to merge imperceptibly with other activities. However, their defining characteristic is that given by Smith, that they disappear when performed and cannot be stored, although, of course, they can be repeated. There has been conflicting views over the...
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