What is the meaning of goods and services

The terms goods and services are used in every business enterprises and entrepreneurship.The business can either sell goods or services or the business can  also sell products.These are business terms which are
used everywhere can be explained as follows:

Goods
The word goods in business term means anything which is tangible.Tangible is anything which you can touch by the hand or and you can even hold it.Good is anything which is tangible or anything which you can touch by hand.Examples of goods include any electronics devices such as television sets,radios etc,goods can also be any of the agricultural products such as vegetables and non vegetables products etc,goods can also be any of the  manufactured products such as consumable products such as cooking flour,cooking fats or even washing detergents etc.Goods simply terms means anything which one can see and even touch.

Services
The word services in business term means anything which is intangible.Intangible is anything which you can not touch by hand.So anything which you can not touch by hand is known as services.Services are all activities in the business which can not be touched  but will facilitate smooth flow of business activities.Example of services in business includes insurance,banking,transport services and maintenance services.When the business deposit or withdraw money from the bank,then the business is doing banking services or the business is receiving banking services from the bank.When  the business is covering itself against risks by insuring itself with insurance companies,then the business receives insurance services or the business is simply getting insurance services from the insurance companies.Also when the business is transporting goods to and fro the business then the business is receiving transport services or the business has received transport services from transporting companies.

Products
Products is the term which is been used severally in the businesses.The term products simply means the combinations of both goods and services.So instead of the business saying that it is selling goods or whether it is selling services, then the business can say that it is selling products.When the entrepreneurs sells goods,they can refer the goods as products and when the entrepreneur sell services like in banking,the entrepreneur can also refers the services as also products.Like in manufacturing industries,an industry can manufacture different products or goods.

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