One difference between services in the production of goods is that the services are consumed blank where as good as can be blank

Question

Aisha Harding

Business

12 March, 10:36

One difference between services in the production of goods is that the services are consumed blank where as good as can be blank

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Chad Rose · Answer 1

One difference between services in the production of goods is that the services are consumed by the consumer instantly where as good as can be stored by the consumer

Explanation:

Goods and services are two important types of purchases that people make.

A good is termed as tangible or physical product that people can buy, tangible meaning something you can touch, and store for later use

A service is said to be intangible, which can't be physically touched or stored. You can only pay for a service

The term Perishability means that services cannot be stored for later sale or use. In other words, services cannot be inventoried. This is one of the most significant characteristics of services, and it has a major impact on financial results of a company

One difference between services in the production of goods is that the services are consumed by the consumer instantly where as good as can be stored by the consumer