goods and services

{{Further|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.{{cite book|first=Martin|last=Shubik|title=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|url=https://books.google.com/books?id=69ngAwAAQBAJ&pg=PA234|date=23 June 2014|publisher=Taylor & Francis|isbn=978-1-135-60837-8|pages=236–237}}

File:Service-goods continuum.png

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,UK Legislation. [http://www.legislation.gov.uk/uksi/2006/5/pdfs/uksi_20060005_en.pdf "The Public Contracts Regulations 2006"] {{Webarchive|url=https://web.archive.org/web/20141211234007/http://www.legislation.gov.uk/uksi/2006/5/pdfs/uksi_20060005_en.pdf |date=11 December 2014 }}. Regulation 2(1) s.v. "goods". Retrieved 25 June 2015 whereas under United States federal procurement regulations, it is treated as a service.[https://www.acquisition.gov/sites/default/files/current/far/html/Subpart%2041_2.html Federal Acquisition Regulation, Subpart 41.2 — Acquiring Utility Services] {{Webarchive|url=https://web.archive.org/web/20180129112342/https://www.acquisition.gov/sites/default/files/current/far/html/Subpart%2041_2.html |date=29 January 2018 }}, accessed 12 May 2018

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.{{cite news |url=https://inevitablesteps.com/marketing/difference-between-goods-and-services/ |title=Difference Between Goods and Services: Visual Guide |date=March 3, 2016 |publisher=Inevitable Steps |access-date=March 3, 2016 |archive-date=10 February 2019 |archive-url=https://web.archive.org/web/20190210134328/http://inevitablesteps.com/marketing/difference-between-goods-and-services |url-status=dead }} 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 conceptIndiaclass, [http://www.indiaclass.com/goods-service-continuum/ "Goods Service Continuum"]. Accessed 25 June 2015. {{webarchive |url=https://web.archive.org/web/20150425135605/http://www.indiaclass.com/goods-service-continuum/ |date=25 April 2015 }} which "enables marketers to see the relative goods/services composition of total products".Bachelors of Management Students Portal (BMS.co.in). [http://www.bms.co.in/explain-the-goods-service-continuum/ "Explain the Goods-Service Continuum"] {{Webarchive|url=https://web.archive.org/web/20150401013958/http://www.bms.co.in/explain-the-goods-service-continuum/ |date=1 April 2015 }}, accessed 25 June 2015

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.{{cite web |url=http://www.theseus.fi/bitstream/handle/10024/6350/Mattsson_Katriina.pdf |title=Customer satisfaction in the retail market |last=Mattsson |first=Katriina |date=2009 |website=Theseus |pages=15–16 |access-date=18 November 2015 |archive-date=4 August 2016 |archive-url=https://web.archive.org/web/20160804105853/http://www.theseus.fi/bitstream/handle/10024/6350/Mattsson_Katriina.pdf |url-status=live }}

{{Further|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 goodsWTO, [https://www.wto.org/english/tratop_e/gatt_e/gatt_e.htm GATT and the Goods Council] {{Webarchive|url=https://web.archive.org/web/20151118010233/https://www.wto.org/english/tratop_e/gatt_e/gatt_e.htm |date=18 November 2015 }} accessed 17 November 2015 and the General Agreement on Trade in Services (GATS) covers the services sector.WTO, [https://www.wto.org/english/tratop_e/serv_e/serv_e.htm Services trade] {{Webarchive|url=https://web.archive.org/web/20160110061401/https://www.wto.org/english/tratop_e/serv_e/serv_e.htm |date=10 January 2016 }}, accessed 17 November 2015

{{Portal|Business and economics}}

{{cols}}

• Commodity (Marxism)
• Fast-moving consumer goods
• Goods and services tax
• List of countries by GDP sector composition
• Tertiary sector of the economy
• Three-sector model
• Universal basic services

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{{reflist}}

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• {{cite book | last1=Hendrickson | first1=C.T. | last2=Lave | first2=L.B. | author2-link=Lester Lave | last3=Matthews | first3=H.S. | title=Environmental Life Cycle Assessment of Goods and Services: An Input-Output Approach | publisher=Taylor & Francis | year=2010 | isbn=978-1-136-52549-0 | url=https://books.google.com/books?id=FZ2VUOX1gbAC }} 274 pages.
• {{cite book | last1=Murley | first1=L. | last2=Wilson | first2=A. | title=The Distribution of Goods and Services | publisher=Rosen Central | series=Dollars and sense: a guide to financial literacy | year=2011 | isbn=978-1-4488-4710-5 | url=https://books.google.com/books?id=7FGgXZUm8BoC }} 64 pages.
• Smith, Adam. [http://www.gutenberg.org/ebooks/3300 The Wealth of Nations] {{Webarchive|url=https://web.archive.org/web/20151027042942/http://www.gutenberg.org/ebooks/3300 |date=27 October 2015 }} at Project Gutenberg

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• [http://www.wipo.int/export/sites/www/classifications/nice/en/pdf/8_list_class_order.pdf International Classification of Goods and Services] at World Intellectual Property Organization
• [http://www.ecfr.gov/cgi-bin/text-idx?SID=ed7c73f3a46c357b10a4a634550f311f&mc=true&node=se37.1.6_11&rgn=div8 Electronic Code of Federal Regulations] at Code of Federal Regulations
• [http://www.uspto.gov/trademark/trademark-updates-and-announcements/nice-agreement-tenth-edition-general-remarks-class Nice Agreement Tenth Edition – General Remarks, Class Headings and Explanatory Notes – Version 2012]

{{Microeconomics}}

{{Economics}}

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Category:Goods (economics)

Category:Services (economics)