Goods & Services

Aleah Cady

Goods and Services

What are goods and services?

Economically, goods and services supply the needs of people.

Goods are something that you can use or consume and are usually physical, while services are intangible, something that is done for you.


Examples of goods would be:

  • Television
  • Food
  • CDs
  • Car
  • Clothes
  • Furniture
  • Toys

Consumer vs. Capital Goods

  • Consumer goods are the "final product." purchased by consumers to directly satisfy a need or want. Examples would be foods, beverages, video games, CDs, sport goods, etc.
  • Capital goods add to the asset of an enterprise. Examples would be machinery and equipment, power generators, office equipment, etc. (Things that you will use to make something else.)


Examples of services would include:

  • Getting a haircut
  • Being taught a new language
  • Getting a medical checkup
  • Car repair