Question

State any two differences between Services and Goods.​

Answer 1

Answer:

Goods are tangible, as in these have a physical presence and they can be touched, while services are intangible in nature.

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Services Meaning.

Basis of Comparison Goods Services

Storage Goods can be stored Services cannot be stored

Perishable Not all goods are perishable Services are perishable

Answer 2

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Goods and services are an essential part of an economy, and these two terms are used in most of the important economic discussions.

There are many products that a consumer purchases in order to fulfill their certain requirements. These products can be either in the form of goods or services.

Goods are tangible, as in these have a physical presence and they can be touched, while services are intangible in nature.

The purpose of both goods and services is to provide utility and satisfaction to the consumer.