The differences between goods and services are:
Goods
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Services
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Goods are basically objects or products which have to be manufactured, stored, transported, marketed and sold. Lays chips, BMW, Adidas are some companies who manufacture goods.
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Services are output of individuals and they can be a collective or individualistic action or performance by an individual. For example a barber or chartered accountants are giving individual services.
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Goods are tangible in nature.
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Services are mostly intangible.
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Ownership can be transferred
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Ownership can not be transferred
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Time is less important in goods comparatively services.
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Time is very important in services
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