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{{multiple image|caption_align=center|header_align=center |
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⚫ | In [[economics]], |
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| image1 = MUJI PENS (3103937573).jpg |
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| alt1 = Pens for sale |
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| image2 = Barbier in Kaxgar.jpg |
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| alt2 = Barbier in Kaxgar |
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| footer = Pens are physical goods, while barbering is an intangible service. |
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}} |
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⚫ | In [[economics]], products can be classified into '''goods and services'''. '''Goods''' are items that are [[tangible]], such as books, pens, salt, shoes, hats and folders. [[Services industry|Services]] are intangibles provided by other people, such as doctors, lawn care workers, dentists, barbers and waiters. According to economic theory, [[Consumption (economics)|consumption]] of goods and services is assumed to provide [[utility]] (satisfaction) to the consumer or end-user, although businesses also consume goods and services in the course of producing other goods and services. |
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⚫ | The division of [[consumables]] into physical goods and intangible services is an oversimplification: these are not discrete categories. Most business theorists see a continuum with pure service at one endpoint and pure [[commodity |
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== History == |
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{{Further|Productive and unproductive labour}} |
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[[Physiocracy|Physiocratic economists]] categorized production into productive labour and unproductive labour. [[Adam Smith]] expanded this thought by arguing that any economic activities directly related on material products (goods) were productive, and those activities which involved non-material production (services) were unproductive. This thought that emphasized 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.<ref name="Shubik2014">{{cite book|author=Martin 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, Proportioni et Propotionalita, Siena, 18-19 November 1992|url=http://books.google.com/books?id=69ngAwAAQBAJ&pg=PA234|date=23 June 2014|publisher=Taylor & Francis|isbn=978-1-135-60837-8|pages=236–237}}</ref> |
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⚫ | The division of [[consumables]] into physical goods and intangible services is an oversimplification: these are not discrete categories. Most business theorists see a continuum with pure service at one endpoint and pure [[commodity]] goods at the other endpoint. Most [[product (business)|products]] fall between these two extremes. For example, a [[restaurant]] provides a physical good (prepared [[food]]), but also provides services in the form of ambiance, the setting and clearing of the table, etc. And although some utilities, such as [[electricity]] providers, exclusively provide services, other utilities actually deliver physical goods, such as [[water industry|water utilities]]. For [[Government procurement in the European Union|public sector contracting]] purposes in the European Union, electricity supply is actually defined as goods rather than services.<ref>UK Legislation. [http://www.legislation.gov.uk/uksi/2006/5/pdfs/uksi_20060005_en.pdf "The Public Contracts Regulations 2006"]. Regulation 2(1) ''s.v.'' "goods". Retrieved 25 June 2015</ref> |
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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. Goods are not always tangible and may be virtual e.g. a book may be paper or electronic. |
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. Goods are not always tangible and may be virtual e.g. a book may be paper or electronic. |
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[[Marketing |
[[Marketing]] theory makes use of the service-goods continuum as an important concept<ref>Indiaclass, [http://www.indiaclass.com/goods-service-continuum/ "Goods Service Continuum"]. Accessed 25 June 2015. {{dead link|date=November 2015}}</ref> which 'enables marketers to see the relative goods/services composition of total products'.<ref>Bachelors of Management Students Portal (BMS.co.in). [http://www.bms.co.in/explain-the-goods-service-continuum/ "Explain the Goods-Service Continuum"]. Accessed 25 June 2015</ref> |
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In a narrower sense, service refers to [[Quality (business)|quality]] of [[customer service]]: the measured appropriateness of assistance and support provided to a customer. This particular usage occurs frequently in [[retailing]].<ref>{{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}}</ref> |
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== Goods and services in international law == |
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{{further|International (Nice) Classification of Goods and Services}} |
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Distinctions are made between goods and services in the context of [[International trade law|international trade liberalization]]. For example, the [[World Trade Organization]]'s [[General Agreement on Tariffs and Trade]] (GATT) covers international trade in goods<ref>[[World Trade Organization|WTO]], [https://www.wto.org/english/tratop_e/gatt_e/gatt_e.htm GATT and the Goods Council] accessed 17 November 2015</ref> and the [[General Agreement on Trade in Services]] (GATS) covers the [[Tertiary sector of the economy|services sector]].<ref>WTO, [https://www.wto.org/english/tratop_e/serv_e/serv_e.htm Services trade], accessed 17 November 2015</ref> |
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{{Portal|Business and economics}} |
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*[[Commodity (Marxism)]] |
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*[[Fast-moving consumer goods]] |
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*[[Three-sector theory]]{{clear}} |
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== Further reading == |
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{{refbegin}} |
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*{{cite book | last=Hendrickson | first=C.T. | last2=Lave | first2=L.B. | 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&printsec=frontcover}} 274 pages. |
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*{{cite book | last=Murley | first=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&printsec=frontcover}} 64 pages. |
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*Smith, Adam. ''[http://www.gutenberg.org/ebooks/3300 The Wealth of Nations]'' at [[Project Gutenberg]] |
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{{refend}} |
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== External links == |
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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]] |
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*[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]] |
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*[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] |
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{{authority control}} |
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{{DEFAULTSORT:Goods And Services}} |
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[[Category:Goods]] |
[[Category:Goods]] |
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[[Category:Services (economics)]] |
[[Category:Services (economics)]] |
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[[Category:Supply chain management terms]] |
[[Category:Supply chain management terms]] |
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{{Econ-stub}} |