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80 BUSINESS  STUDIES All of us have seen a petrol pump. Have your ever thought how a petrol pump owner does his business in a village? How he gets the petrol and diesel to the villages in the interior? How he gets the money to purchase large quantities of petrol and diesel? How he communicates to petrol depots for requirement and also to customers? How he safeguards himself from various risks associated with this business? The answer to all the above questions lies in the understanding of business services. The transportation of petrol and diesel from oil refineries to petrol pumps is carried out by train and tankers (transport services). They are then stored at various depots of oil companies situated in all major towns across India (warehousing services). Petrol pump owners use postal, mail and telephone facilities to be in touch with customers, banks and the depots for the availability of their requirements on regular basis (communication services). As oil companies always sell the petrol and diesel on advance payment, the owners have to take loans and advances from banks to fund their purchases (banking services). Petrol and diesel being highly risky products, the owners have to safeguard themselves from various risks by getting the business, the products, the life of people working there, etc., insure (insurance services). Thus, we see that a single business of providing petrol and diesel at a petrol pump is actually a collective outcome of various business services. These services are being utilised in the entire process of shipment of petrol and diesel from oil refineries to the point of sale at petrol pumps, spread across the length and breadth of India. 4.1 I ntroduction the item or good and the service performed. You must all have, at some time or the For a layperson, services are other experienced the effect of business activities on your lives. Let us examine essentially intangibles. Their purchase does not result in the ownership of few examples of business activity i.e., anything physical. For example, you purchasing ice cream from a store and eating ice cream in a restaurant, can only seek advice from the doctor, you cannot purchase him. Services are watching a movie in a cinema hall all those economic activities that are purchasing a school bus and leasing intangible and imply an interaction to it from a transporter. If you analyse be realised between the service provider all these activities, you will observe and the consumer. that there is a difference between Services are those separately purchasing and eating, purchasing identifiable, essentially intangible and watching and purchasing and activities that provides satisfaction of leasing. What is common in all of them wants,and are notnecessarilylinked to is that one is purchasing an item and the sale of a product or another service. the other is experiencing a service. But Agoodisaphysicalproductcapable there is definitely a difference between of being delivered to a purchaser and Reprint 2026-27