Question

The basic difference between a good and a service is that a good

Answer 1

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.

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Answer 2

Answer:

is a tangible object that can be owned and stocked.

Explanation:

The main characteristics of services are:

1. Lack or ownership: services cannot be owned or stocked.
2. Intangibility: services do not have a physical shape.
3. Inseparability: services are produced and consumed at the same time.
4. Variability: services are not homogeneous and their quality might vary a lot.
5. Perishability: any service not provided today is lost by tomorrow.
6. User participation: consumers and producers must necessarily participate in the service process.