Understanding Goods and Services

What is the main difference between goods and services?

• Goods are tangible, while services are intangible.

• Goods are intangible, while services are tangible.

• Goods are actions, while services are items.

• Goods are provided by service providers, while services are sold in stores.

Which of the following is an example of a durable good?

• Furniture

• Food

• Haircut

• Car wash

Who are the people that provide services?

• Service providers

• Goods manufacturers

• Store owners

• Consumers

What type of service is a visit to the doctor?

• Professional service

• Personal service

• Public service

• Consumer service

Why are goods and services important in our daily lives?

• They help us live comfortably.

• They are both tangible items.

• They are both actions people do for us.

• They are only needed for shopping.

What are goods?

• Goods are when we policeman, fireman, teachers doing good.

• Goods are everythings that good to buy.

• Goods are things when we become a good student.

• Goods are items you can touch and see, like toys, books, and clothes.

What are non-durable goods?

• like going to practice basketball

• like food, which we use quickly.

• sofas, chairs, tables

• books, pens, pencils