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Goods include food, clothing, cars, houses, roads, electronics, and any other product that can be bought or sold. Services are not physical objects that can be touched. Instead, services are things that people do for others in exchange for money. Services include medical care, banking, and entertainment, such as musical concerts or sporting events.
Can you name some goods that you use? Pencils, scissors, paper, toys, candy, a bed, a hat, and a bike are all examples of goods. Services are things that people do for us that can satisfy our wants. What service is the hair stylist providing for the child? The hair stylist is cutting hair. What service is the waiter providing?
One of the most basic ideas in economics is goods and services. More than anything else, money is spent on goods and services. It helps to know the difference between two. A good is something that you can use or consume, like food or CDs or books or a car or clothes.
Nov 21, 2023 · Goods include books, shops, washing machines, cars, wood, coffee, handbags, beds, chairs, mirrors, computers, tractors, bottles, clothes, blenders, lotions, toothbrushes, and houses....
