Services are essentially intangible activities which are separately identifiable and provide
satisfaction of wants. We cannot kept it-in stock. Their purchase does not result in the ownership of anything physical. Services involve an interaction to he realised between the service provider and the consumer.
Goods are physical products capable of being delivered to a purchaser and involves the transfer of ownership from seller to customer. Goods also refer to commodities or items of all types, except ,
services, involved in trade or commerce.