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Question
Distinguish goods from services.
Distinguish Between
Solution
| S.No. | Goods | Services |
| 1. | Material things, tangible | Intangible |
| 2. | Exist independently of their owner | Inseparable from their makers |
| 3. | Transferable have value–in–exchange | Services cannot be stored as inventories like goods. |
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Basic Concepts in Economics
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