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Goods and services are tangible and intangible value that satisfy human needs and wants. Goods are usually tangible things such as bread and services are usually intangible experiences such as a meal at a restaurant. The defining difference between a good and service is that goods are transferable such that they can potentially be resold and services are nontransferable. The following are common examples of goods and services.
Aircraft | Art | Banking Services | Bicycles | Breakfast Cereal | Cafes | Cameras | Cleaning Services | Cloud Services | Coffee | Computers | Consulting | Cosmetics | Crafts | Dentists | Ebooks | Electricity | Fashion | Flights | Flowers | Foods | Furniture & Fixtures | Gyms | Haircuts | Home Renovations | Honey | Hotels | Housewares | Industrial Equipment | Jewelry | Luxury Handbags | Magazines | Maintenance Services | Manufacturing Robots | Mobile Phone Services | Movie Theaters | Museums | Network Infrastructure | New Homes | Newspapers | Night Clubs | Orange Juice | Public Goods & Services (e.g. Public Healthcare) | Real Estate Agents | Salt | Sand | Shampoo | Ships | Software | Spas | Sporting Goods | Streaming Media | Theatrical Performances | Theme Parks | Toiletries | Tools | Toys | Vehicles | Video Games | Vitamins | Water | Wood |
Consumer GoodsConsumer goods are physical products that are sold to individuals and households.Consumer ServicesIntangible value that is sold to individuals and households. Services can have some physical form but most of their value is intangible. For example, if you go to a restaurant, the experience and service that you receive is viewed as more significant than the physical food.Business GoodsPhysical products that are primarily sold to businesses such as capital equipment, supplies, parts and components.Business ServicesServices that are designed for businesses. As with consumer services, these can have some physical form but are mostly offering intangible value.DiscussionGoods and services include consumer products, consumer services, business products and business services. Investments such as stocks aren't goods.Generally speaking, land isn't a good but is rather an investment.Taxes on goods and services are common on an international basis. These often offer a credit for businesses that collect and submit the tax to avoid a situation where the same tax is applied again and again at each level of the value chain. For example, a retailer that collects a goods and services tax (GST) may get a refund for any GST that it pays for its inventory or other business expenses. Goods and services taxes typically only apply to domestic sales and not exports.SummaryThe following is a basic summary of goods and services that represent the two types of value production in an economy.Next: Examples of Services
Goods
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