Goods and services are two distinct economic terms that refer to different types of economic offerings. Goods are tangible, physical products that can be bought and sold, such as food, clothing, or electronics. Services, on the other hand, are intangible offerings that cannot be physically held, such as healthcare, education, or transportation. While goods are often produced and then sold, services are typically delivered at the time they are purchased. Additionally, goods are usually sold on the basis of their quality and price, while services are sold on the basis of the experience and expertise of the provider.
