Meaning of goods and services.

[KIP254]

Goods refer to anything that is tangible, thing that can be touched and seen, and used by human beings to satisfy their wants. Goods may include maize, beans, sugar and vegetables. Goods have money value.

Service is any act that is tangible that one person offers to another person. Services include teaching, banking, transport, security and medical care. Services are intangible, that is they cannot be touched or felt. Services cannot be separated from the provider and can be exchanged for money.

 

[Ephy]

Goods refer to anything that is tangible, thing that can be touched and seen, and used by human beings to satisfy their wants. Goods may include maize, beans, sugar and vegetables. Goods have money value.

Service is any act that is tangible that one person offers to another person. Services include teaching, banking, transport, security and medical care. Services are intangible, that is they cannot be touched or felt. Services cannot be separated from the provider and can be exchanged for money.

Goods are tangible products that satisfy human needs. Goods are produced and consumed at different times. They are also separable from the producer and they can be stored for future use. They can also be standardised, that is they can be made identical.

While services are intangible they cannot be touched or felt. They cannot be stored for future use or sale. The production and consumption of a service takes place at the same time for example when a teacher is teaching, the students are consuming that service at the same time.

 

[Seyesystem]

Goods are being produced by business organisations and services are also rendered by organisations.Goods are material things wanted by human beings. They can be seen or touched. Services are non-material things. These cannot be seen or touched only their effects are felt. goods some products which satisfy some of our wants. All the things which satisfy human wants are good. We can not survive without goods and some services which are essential to human survival. A company that produces quality goods will have increase in it sales.services can be rendering cleaning services,teaching and coaching too.

 

[marcusfe]

Goods are feasible products offered for sale by any business enterprise in exchange for other valuable things such as money while services are services are referred to as the work done or rendered in form of transaction in order to get something in return especially money. Examples of goods are household materials, educational materials, fashion outfits, cars etc. Examples of services are teaching, job done (work done), legal services, spiritual services etc. Both of these terms occur in business transactions within two or more parties. It is possible for an organization to have both terms for business for instance, an automobile industry who is engaged in both sales and services of motor vehicles.