The basic difference between a good and a service is that a good
2 answers:
Answer:
The basic difference between a good and a service is that a good is tangible while a service is intangible.
Explanation
Check the table attached to find an outline of the basic differences between a good and a service.
Answer:
is a tangible object that can be owned and stocked.
Explanation:
The main characteristics of services are:
- Lack or ownership: services cannot be owned or stocked.
- Intangibility: services do not have a physical shape.
- Inseparability: services are produced and consumed at the same time.
- Variability: services are not homogeneous and their quality might vary a lot.
- Perishability: any service not provided today is lost by tomorrow.
- User participation: consumers and producers must necessarily participate in the service process.
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