Question

What are the 4 major differences between goods and services?

What are the 4 major differences between goods and services?

Homework Answers

Answer #1

4 major diffecrences between goods and services are:

  • goods are commodities or materials which can be seen, touched felt. but services are amenities facilities, benefits provided by service provider to its customers.
  • goods are tangible in nature whereas services are generally intangible in nature. hence, goods can be touched, used, seen etc, services cannot be touched etc.
  • goods can be transfered from one owner to another easily, it can be resold. whereas services cannot be transfered from one owner to another, if a service is provided to one person it cannot be trasfered to another.
  • Goods can be stored in warehouses for use, and sale at a a late date, but services cannot be stored
  • There is a time lag between production and consuption of a goods because goods are produced then shipped to selling points or customers. But services are produced and consumed at the same time hence no time lag.
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
In thinking of the differences between goods and services, which of the following is unique to...
In thinking of the differences between goods and services, which of the following is unique to services? A) Perishability B) Variability C) Inseparability D) Intangibility E) All of these are unique to services
What are the 4 major differences between saturated and unsaturated fatty acid?
What are the 4 major differences between saturated and unsaturated fatty acid?
a.) What are the major morphological differences between the RER and the SER? b.) What are...
a.) What are the major morphological differences between the RER and the SER? b.) What are the major differences in their functions?
what are 5 major differences between stocks and bonds?
what are 5 major differences between stocks and bonds?
What are the major differences between the theories of Piaget and Vygotsky?
What are the major differences between the theories of Piaget and Vygotsky?
What are the major differences between MongoDB and relational databases?
What are the major differences between MongoDB and relational databases?
What are the major differences between public health and healthcare? Explain at least two differences.
What are the major differences between public health and healthcare? Explain at least two differences.
What are the major functional differences between the endocrine and the nervous system?
What are the major functional differences between the endocrine and the nervous system?
What are the major differences between the Ricardian Model and the H-O Model?
What are the major differences between the Ricardian Model and the H-O Model?
What is a roundworm? what are the major differences in structure between roundworms and flatworms? (Please...
What is a roundworm? what are the major differences in structure between roundworms and flatworms? (Please type the answer)
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT