Physiocratic economists categorized production into productive labour and unproductive labour. Adam Smith expanded this thought by arguing that any economic activities directly related to material products (goods) were productive, and those activities which involved non-material production (services) were unproductive. This emphasis on material production was adapted by David Ricardo, Thomas Robert Malthus and John Stuart Mill, and influenced later Marxian economics. Other, mainly Italian, 18th-century economists maintained that all desired goods and services were productive.[1]
Goods are normally structural and can be transferred in an instant while services are delivered over a period of time. Goods can be returned while a service, once delivered cannot.[4] Goods are not always tangible and may be virtual e.g. a book may be paper or electronic.
Marketing theory makes use of the service-goods continuum as an important concept[5] which "enables marketers to see the relative goods/services composition of total products".[6]
In a narrower sense, service refers to quality of customer service: the measured appropriateness of assistance and support provided to a customer. This particular usage occurs frequently in retailing.[7]
^Shubik, Martin (23 June 2014). Proceedings of the Conference Accounting and Economics: In Honour of the 500th Anniversary of the Publication of Luca Pacioli's Summa de Arithmetica, Geometria, Proportions et Propotionalita, Siena, 18-19 November 1992. Taylor & Francis. pp. 236–237. ISBN978-1-135-60837-8.
^UK Legislation. "The Public Contracts Regulations 2006". Regulation 2(1) s.v. "goods". Retrieved 25 June 2015
^Federal Acquisition Regulation, Subpart 41.2 — Acquiring Utility Services 29 January 2018 at the Wayback Machine, accessed 12 May 2018
^"Difference Between Goods and Services: Visual Guide". Inevitable Steps. 3 March 2016. Retrieved 3 March 2016.
^Indiaclass, "Goods Service Continuum". Accessed 25 June 2015. 25 April 2015 at the Wayback Machine
^Bachelors of Management Students Portal (BMS.co.in). "Explain the Goods-Service Continuum", accessed 25 June 2015
^Mattsson, Katriina (2009). "Customer satisfaction in the retail market" (PDF). Theseus. pp. 15–16. Retrieved 18 November 2015.
^WTO, GATT and the Goods Council accessed 17 November 2015
Hendrickson, C.T.; Lave, L.B.; Matthews, H.S. (2010). Environmental Life Cycle Assessment of Goods and Services: An Input-Output Approach. Taylor & Francis. ISBN978-1-136-52549-0. 274 pages.
Murley, L.; Wilson, A. (2011). The Distribution of Goods and Services. Dollars and sense: a guide to financial literacy. Rosen Central. ISBN978-1-4488-4710-5. 64 pages.
Nice Agreement Tenth Edition – General Remarks, Class Headings and Explanatory Notes – Version 2012
May 10, 2023
goods, services, this, article, includes, list, general, references, lacks, sufficient, corresponding, inline, citations, please, help, improve, this, article, introducing, more, precise, citations, june, 2015, learn, when, remove, this, template, message, goo. This article includes a list of general references but it lacks sufficient corresponding inline citations Please help to improve this article by introducing more precise citations June 2015 Learn how and when to remove this template message Goods are items that are usually but not always tangible such as pens physical books salt apples and hats Services are activities provided by other people who include architects suppliers contractors technologists teachers doctors lawn care workers dentists barbers waiters online servers a digital book a digital video game or a digital movie Taken together it is the production distribution and consumption of goods and services which underpins all economic activity and trade According to economic theory consumption of goods and services is assumed to provide utility satisfaction to the consumer or end user although businesses also consume goods and services in the course of producing other goods and services see Distribution Channels and intermediaries Pens are physical goods while barbering is an intangible service Contents 1 History 2 Service goods continuum 3 In international law 4 See also 5 References 6 Further reading 7 External linksHistory EditFurther information Productive and unproductive labour Physiocratic economists categorized production into productive labour and unproductive labour Adam Smith expanded this thought by arguing that any economic activities directly related to material products goods were productive and those activities which involved non material production services were unproductive This emphasis on material production was adapted by David Ricardo Thomas Robert Malthus and John Stuart Mill and influenced later Marxian economics Other mainly Italian 18th century economists maintained that all desired goods and services were productive 1 Service goods continuum Edit Service goods continuum The division of consumables into services is a simplification these are not discrete categories Most business theorists see a continuum with pure service at one endpoint and pure tangible commodity goods at the other Most products fall between these two extremes For example a restaurant provides a physical good prepared food but also provides services in the form of ambience the setting and clearing of the table etc Although some utilities such as electricity and communications service providers exclusively provide services other utilities deliver physical goods such as water utilities For public sector contracting purposes the electricity supply is defined among goods rather than services in the European Union 2 whereas under United States federal procurement regulations it is treated as a service 3 Goods are normally structural and can be transferred in an instant while services are delivered over a period of time Goods can be returned while a service once delivered cannot 4 Goods are not always tangible and may be virtual e g a book may be paper or electronic Marketing theory makes use of the service goods continuum as an important concept 5 which enables marketers to see the relative goods services composition of total products 6 In a narrower sense service refers to quality of customer service the measured appropriateness of assistance and support provided to a customer This particular usage occurs frequently in retailing 7 In international law EditFurther information International Nice Classification of Goods and Services Distinctions are made between goods and services in the context of international trade liberalization For example the World Trade Organization s General Agreement on Tariffs and Trade GATT covers international trade in goods 8 and the General Agreement on Trade in Services GATS covers the services sector 9 See also Edit Business and economics portalCommodity Marxism Fast moving consumer goods Goods and services tax List of countries by GDP sector composition Tertiary sector of the economy Three sector modelReferences Edit Shubik Martin 23 June 2014 Proceedings of the Conference Accounting and Economics In Honour of the 500th Anniversary of the Publication of Luca Pacioli s Summa de Arithmetica Geometria Proportions et Propotionalita Siena 18 19 November 1992 Taylor amp Francis pp 236 237 ISBN 978 1 135 60837 8 UK Legislation The Public Contracts Regulations 2006 Regulation 2 1 s v goods Retrieved 25 June 2015 Federal Acquisition Regulation Subpart 41 2 Acquiring Utility Services Archived 29 January 2018 at the Wayback Machine accessed 12 May 2018 Difference Between Goods and Services Visual Guide Inevitable Steps 3 March 2016 Retrieved 3 March 2016 Indiaclass Goods Service Continuum Accessed 25 June 2015 Archived 25 April 2015 at the Wayback Machine Bachelors of Management Students Portal BMS co in Explain the Goods Service Continuum accessed 25 June 2015 Mattsson Katriina 2009 Customer satisfaction in the retail market PDF Theseus pp 15 16 Retrieved 18 November 2015 WTO GATT and the Goods Council accessed 17 November 2015 WTO Services trade accessed 17 November 2015Further reading EditHendrickson C T Lave L B Matthews H S 2010 Environmental Life Cycle Assessment of Goods and Services An Input Output Approach Taylor amp Francis ISBN 978 1 136 52549 0 274 pages Murley L Wilson A 2011 The Distribution of Goods and Services Dollars and sense a guide to financial literacy Rosen Central ISBN 978 1 4488 4710 5 64 pages Smith Adam The Wealth of Nations at Project GutenbergExternal links EditGoods and services at Wikipedia s sister projects Media from Commons News from Wikinews Quotations from Wikiquote Texts from Wikisource Textbooks from Wikibooks Resources from Wikiversity Data from Wikidata International Classification of Goods and Services at World Intellectual Property Organization Electronic Code of Federal Regulations at Code of Federal Regulations Nice Agreement Tenth Edition General Remarks Class Headings and Explanatory Notes Version 2012 Retrieved from https en wikipedia org w index php title Goods and services amp oldid 1153422877, wikipedia, wiki, book, books, library,
