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Explain terms 'good' and 'service' and give 3 examples in each case

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Answer with Explanation:

I believe the question is related to Economics.

A "good" refers to a physical item or a material thing that is being sold to customers for a particular price. This is tangible in nature.

Examples:

  • bag
  • shoes
  • lotion

A "service" refers to skills, facilities, amenities, talents, and other intangible things than can be provided to customers for a particular price.

Examples:

  • A customer being transported to his desired place or destination.
  • A pianist playing his piece at a musical concert.
  • A hairdresser fixing the customer's hair.

So, this explains the answer.

User Ryan Garde
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