Question 1

Define services and goods.


Services: Services are defined as all those economic activities which are intangible and imply an interaction to be realised between service provider and the consumer.
Goods: A goods is defined as the physical product capable of being delivered to a purchaser and that involves the transfer of ownership from seller to the customer. Goods also generally used to refer to commodities or items of all the types, excepting services, being involved in trade or commerce.

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