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Goods Vs Services


Offshore Agent
Sep 13, 2009
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Even if goods and service speak together but there is difference between the two. In this sense, a goods is defined as a physical (tangible) product, capable of being delivered to a purchaser and involves the transfer of ownership from seller to customer, say an apple, as opposed to an (intangible) service, say a haircut. A more general term that preserves the distinction between goods and services is 'commodities,' like a flashlight. In microeconomics, a 'goods' is often used in this more inclusive sense of the word.
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And this story tells us what?