Goods and services

Goods are __________ in nature

one of them is not a feature of service

• services are tangible in nature

• services cannot be stored

• services cannot be moved from place t place

• there is no time gap between production and consumption of service

tangible means

example of free service

• doctor treating a patient

• father driving you to a mall

• teacher teaching a student

• uber driver taking you to a mall

example of public goods

• car

• road

• pen

• house

example of free goods

• car

• house

• desert sand

• phone

example of producer goods

• bread

• seeds

• pen

• phone

example of consumer goods

• seeds

• machinery

• tools

• chips

example of single use goods

• machinery

• T.V

• house

• seeds

example of private goods

• bridge

• road

• car

• park