Exploring Goods vs. Services

What are goods primarily defined as?

• Services provided by others

• Items that are made or grown to be sold

• Items that are consumed

• Digital products only

Which of the following is an example of a good?

• A haircut

• A book

• A medical checkup

• Electricity usage

What defines a service?

• A task done for others that is paid

• A downloadable software

• A product that can be stored

• An item grown in farms

Which of the following is a service?

• A pair of shoes

• A toothbrush

• Garbage collection

• A smartphone

Identify the service from the following options:

• A paintbrush

• Mowing a lawn

• A dog collar

• A lawnmower

What is the correct classification for buying a trampoline?

• A consumable item

• A good

• A service

• A digital product

Which option lists a good?

• Getting a car wash

• House painting service

• Visiting a trampoline park

• A new dog collar

What should you consider when spending money?

• The digital interface of the service

• The brand of the service

• The color of the product

• Whether it is a good or a service

Which of the following is an example of spending on a service?

• Going to a dentist

• Buying a car

• Purchasing a video game

• Buying a house

What is a key difference between goods and services?

• Goods are always physical, services are not

• Services can be stored, goods cannot

• Goods are tasks performed by others, services are not

• Services are intangible activities, goods are tangible items