Goods & Services

What is a good?

• something nice

• something physical that can be bought

• a job or activity that you pay for

• a divine being

What is a service?

• a job or activity that you pay to be done

• a person who serves others

• something physical that can be bought

• an item that is intended to be used once only

Which of the following is a good?

• train journey

• appointment with a doctor

• pizza delivery

• tube of toothpaste

Which of the following is a service?

• can of Irn Bru

• haircut

• kettle

• television set

A physical thing that you can purchase, such as a smartphone or a banana, is known as a

Something that you can purchase but not touch, such as a train journey or legal advice, is known as a