Question

what is primary diffrence between goods and services

what is the answer
good can be transferred service belong to the producer.
good use economic resource services do not
good are tangible services are intangible.
good are most costly then services.

Answer 1

The primary difference between goods and services is that goods are tangible and can be seen or touched, while services are intangible and cannot be held or physically possessed. Goods are physical products that can be produced, stored, and transferred from the producer to the consumer. On the other hand, services are actions or performances provided by one party to another and exist only at the time of their delivery. Goods typically involve the use of economic resources like raw materials, machinery, and labor, while services generally do not require the use of such resources. Additionally, goods are usually more costly to produce and deliver compared to services.