Differentiate goods and services

Comparison Table

GOODS SERVICES

tangible intangible
can be returned cannot be returned

can be stored cannot be stored

with physical identity without physical identity

produced performed
ownership is transferrable ownership is nontransferrable

can be separated from the seller cannot be separated from the service provider
usually uniform in nature unique at each delivery

can be resold cannot be resold

physical objects produced activity of performing work for others

Conclusion

Generally, services are delivered as per the request of the customer itself. In short, the production of
services depends on the customer’s demand. On the other hand, goods are produced even without
customer’s request as long as the general market demands.