Answer :

Final answer:

Goods are tangible items that can be purchased or consumed, while services are intangible actions or performances provided to satisfy a need or want.

Explanation:

Goods refer to tangible items that can be purchased or consumed, such as food, clothing, and electronics. They are physical products that can be touched and seen. For example, a laptop or a pair of shoes are goods.

Services, on the other hand, are intangible actions or performances that are provided to satisfy a need or want. They cannot be held or possessed. Examples of services include haircuts, transportation, and medical check-ups.

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