What is The Difference Between Goods and Services

What is the difference between goods and services:

What is goods:

goods Is an essential part of an economy and those terms or used in the most important economic decision. There are many products that a customer purchase in order to Fullfil their certain requirement . Goods are tangible us in this have a physical presence and they can be touched while services or  tangible in nature. The purpose of goods is to provide utility and satisfaction of customer.


  1. Goods can be classified as durable or non durable.
  2. Goods due to their tangible.
  3. Goods have certain time of period that is required of the production.
  4. Goods can be produced as per the market demand.
  5. Good can be separated from the seller.
  6. Not all goods are perishable of demand.
  7. Goods have a significant time gap between production and consumption.
  8. Goods can be stored by the sellers.
  9. their is no transfer of unlike goods services cannot be stored.
  10. Goods transfer of ownership from the seller .

What is service:

Services or the intagible and non physical part of the economy. It cannot be touched. They are perishable in nature. I need to be provided at a moment.  It is your moment when requested by the consumer.

Services is physical identity and cannot be owned. Services cannot be distinguished from the service provider. There is no transfer of ownership in services of utilized later.


  1. Services cannot be separated from the service provider.
  2. It is not possible of transfer of ownership.
  3. Services cannot be stored.
  4. Services or produced and consumed together.
  5. It is the issue of the level management.
  6. Services has the intengle and physical part.
  7. Services has a physical identity.
  8. It is also distinguished from service provider.
  9. In concert service do not won the restaurant
  10. It develops

In the Indian economy.

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