Ask Question
BusinessBusiness
1 March, 14:12

Explain terms 'good' and 'service' and give 3 examples in each case

+1
Answers (1)
  1. 1 March, 16:10
    0
    Answer with Explanation:

    I believe the question is related to Economics.

    A "good" refers to a physical item or a material thing that is being sold to customers for a particular price. This is tangible in nature.

    Examples:

    bag shoes lotion

    A "service" refers to skills, facilities, amenities, talents, and other intangible things than can be provided to customers for a particular price.

    Examples:

    A customer being transported to his desired place or destination. A pianist playing his piece at a musical concert. A hairdresser fixing the customer's hair.

    So, this explains the answer.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “Explain terms 'good' and 'service' and give 3 examples in each case ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers
You Might be Interested in
The trial balance of Larkspur, Inc. at the end of its fiscal year, August 31, 2020, includes these accounts: Inventory $19,500; Purchases $155,500; Sales Revenue $193,000; Freight-In $4,000; Sales Returns and Allowances $3,350; Freight-Out $1,750;
Answers (1)
John maynard keynes theory of pump priming said that the economy could be stimulated by giving money to which group
Answers (1)
In a certain economy, toys and greeting cards are produced, and the economy currently operates on its production possibilities frontier.
Answers (1)
An airline ticket from Baltimore to Miami costs $425. A bus ticket is $125. Traveling by plane will take 5 hours, compared with 35 hours by bus. Thus, the plane costs $300 more but saves 30 hours of time.
Answers (1)
Assume a firm's production function is? = K 1 2? 1 2 where Q, L and K are defined. How much labor and capital would be purchased if it seeks to produce 100 units and labor costs $20 per unit and capital each cost $5 per unit?
Answers (1)
New Questions in Business
Rich, Inc. acquired 30% of Doane Corporation's voting stock on January 1, 2018 for $1,000,000. During 2018, Doane earned $400,000 and paid dividends of $250,000.
Answers (1)
Suppose a firm in each of the two markets listed below were to increase its price by 25 percent. In which pair would the firm in the first market listed experience a dramatic decline in sales, but the firm in the second market listed would not? A.
Answers (1)
The right of ___ is when businesses can compete against each to sell their goods and services to buyers. private property competition freedom of choice demand
Answers (1)
Which of the following is a claim against sporting goods giants such as Adidas, Puma, and Nike and the conditions in their international manufacturing plants?
Answers (1)
A put writer would be "covered" by: (A) A long call (B) Another short put (C) Cash equal to the strike price multiplied by 100 shares (D) An escrow receipt for 100 shares of the underlying stock
Answers (1)
Home » Business » Explain terms 'good' and 'service' and give 3 examples in each case
Sign Up Forgot Password?