Provide some instances of internalized services and discuss some important topics about externalized services.

The economy is the combination of various economic activities. These activities include the production, planning, manufacturing, packaging, and distribution of products and services to ensure optimization of the resources available in the market during a given time.

The non-physical and intangible components of our economy, that do not have a physical presence and can only be felt are known as Services.  Eg: Transportation, medical facilities, banking, education, etc. As per the surveys, service sectors have been growing at the rate of almost 10% per annum.