Goods and services
This article includes a list of general references, but it lacks sufficient corresponding inline citations. (June 2015) |
Part of a series on |
Capitalism |
---|
Part of a series on |
Economics |
---|
Goods are items that are usually (but not always)
History
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
The division of
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
In international law
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
References
- ISBN 978-1-135-60837-8.
- ^ UK Legislation. "The Public Contracts Regulations 2006" Archived 11 December 2014 at the Wayback Machine. 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. Archived from the original on 10 February 2019. 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" Archived 1 April 2015 at the Wayback Machine, accessed 25 June 2015
- ^ Mattsson, Katriina (2009). "Customer satisfaction in the retail market" (PDF). Theseus. pp. 15–16. Archived (PDF) from the original on 4 August 2016. Retrieved 18 November 2015.
- ^ WTO, GATT and the Goods Council Archived 18 November 2015 at the Wayback Machine accessed 17 November 2015
- ^ WTO, Services trade Archived 10 January 2016 at the Wayback Machine, accessed 17 November 2015
Further reading
- Hendrickson, C.T.; 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 Archived 27 October 2015 at the Wayback Machine at Project Gutenberg