bring out any three difference between goods and services..??
Answers
Answer:
Difference Between Goods and Services
October 27, 2015 By Surbhi S 12 Comments
Goods Vs ServicesIn economics, goods and services are often pronounced in the same breath. These are offered by the companies to the customers to provide utility and satisfy their wants. At present, the success of the business lies in the combination of best quality of goods and customer oriented services. ‘Goods’ are the physical objects while ‘Services’ is an activity of performing work for others.
Goods implies the tangible commodity or product, which can be delivered to the customer. It involves the transfer of ownership and possession from seller to the buyer. On the other hand, services alludes to the intangible activities which are separately identifiable and provides satisfaction of wants.
One of the main difference between goods and services is that the former is produced and the latter is performed. To know more differences on the two, take a read of the article presented to you.
Content: Goods Vs Services
Comparison Chart
Definition
Key Differences
Conclusion
Comparison Chart
BASIS FOR COMPARISON GOODS SERVICES
Meaning Goods are the material items that can be seen, touched or felt and are ready for sale to the customers. Services are amenities, facilities, benefits or help provided by other people.
Nature Tangible Intangible
Transfer of ownership Yes No
Evaluation Very simple and easy Complicated
Return Goods can be returned. Services cannot be returned back once they are provided.
Separable Yes, goods can be separated from the seller. No, services cannot be separated from the service provider.
Variability Identical Diversified
Storage Goods can be stored for use in future or multiple use. Services cannot be stored.
Production and Consumption There is a time lag between production and consumption of goods. Production and Consumption of services occurs simultaneously.
Answer:
Explanation: Difference Between Goods and Services
October 27, 2015 By Surbhi S 12 Comments
Goods Vs ServicesIn economics, goods and services are often pronounced in the same breath. These are offered by the companies to the customers to provide utility and satisfy their wants. At present, the success of the business lies in the combination of best quality of goods and customer oriented services. ‘Goods’ are the physical objects while ‘Services’ is an activity of performing work for others.
Goods implies the tangible commodity or product, which can be delivered to the customer. It involves the transfer of ownership and possession from seller to the buyer. On the other hand, services alludes to the intangible activities which are separately identifiable and provides satisfaction of wants.
One of the main difference between goods and services is that the former is produced and the latter is performed. To know more differences on the two, take a read of the article presented to you.
Content: Goods Vs Services
Comparison Chart
Definition
Key Differences
Conclusion
Comparison Chart
BASIS FOR COMPARISON GOODS SERVICES
Meaning Goods are the material items that can be seen, touched or felt and are ready for sale to the customers. Services are amenities, facilities, benefits or help provided by other people.
Nature Tangible Intangible
Transfer of ownership Yes No
Evaluation Very simple and easy Complicated
Return Goods can be returned. Services cannot be returned back once they are provided.
Separable Yes, goods can be separated from the seller. No, services cannot be separated from the service provider.
Variability Identical Diversified
Storage Goods can be stored for use in future or multiple use. Services cannot be stored.
Production and Consumption There is a time lag between production and consumption of goods. Production and Consumption of services occurs simultaneously.