The fundamental difference between goods and services is that goods are tangible, physical objects that can be bought, sold, and traded, while services are intangible and typically involve the provision of a skill or expertise. For example, a car is a good because it is a physical object that can be bought and sold. In contrast, a haircut is a service because it is an intangible experience that involves the skill and expertise of the hairstylist. It is worth noting that there are some goods that include a service component, such as a subscription box that includes both a physical product and a service (like a subscription to a magazine).
