Difference Between Goods and Services

Almost all things can be separated into the categories of goods and services . Both things are very different and although there are countless companies that offer us one or the other or both at the same time, the truth is that there are many people who do not know how they differ. Difference Between Goods and Services

To clarify your possible doubts about this issue, below we will tell you what is the difference between them.

GOODS  Difference Between Goods and Services

In Economics, tangible objects are considered goods and by this we are obviously referring to things that can be seen, touched, smelled. Goods can be used or consumed.

Assets can easily be passed from one person to another. They are possessions, personal property or items that can be traded. They can be exchanged for money or for another good.

SERVICES

Services are completely different from goods. They are intangible comforts, which cannot be seen, smelled or touched as if they were objects.

Generally the services are obtained in exchange for money, but in some exceptional cases another service may be offered in exchange.

Some of the most common services that we often request are electricity, cable, gas, water, among others. People who request services like these do not pay just once for them (as is often the case for goods), but pay a fixed income.

Finally, today more and more companies and businesses are focused on offering both goods and services to the public. For example, the food served in a restaurant is a good; but the environment of that business (something the trader invests in) can be considered a service. The business owner can see advantage in offering both to their customers.

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