Question 34 of 35
Q.Distinguish goods from services.
Tamil Nadu DgeTamil Nadu HSC First Year (DGE) Commerce Board 2026Subjective· 2mImportance★★★★★
97% · 34/35 Questions
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Start your 14-day free trial to unlock the full solution →Goods are tangible, storable products; services are intangible, non-storable activities consumed as they are produced.
In economics, output takes two forms — goods and services — distinguished as follows:
| Basis | Goods | Services |
|---|---|---|
| Nature | Tangible (material) — can be seen and touched | Intangible — cannot be seen or touched |
| Storability | Can be stored for future use | Cannot be stored; perish instantly |
| Production and consumption | Can be produced first and consumed later | Produced and consumed at the same time |
| Transferability | Ownership can be transferred | Ownership cannot be transferred |
| Examples | Book, rice, cloth, car | Teaching, transport, banking, medical care |
| … |
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