Question

Distinguish between goods and services.

Answer 1

Answer:

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. ... One of the main difference between goods and services is that the former is produced and the latter is performed.

Explanation:

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Answer 2

Answer:

In 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.