What is the major difference between a good and a service?
A) A good is tangible, but a service is NOT.
B) A service helps satisfy unlimited wants, but a good does NOT.
C) A service is available in unlimited quantities, but a good is NOT.
D) A good is available in unlimited quantities, but a service is NOT.

Question

What is the major difference between a good and a service?  
A) A good is tangible, but a service is NOT. 
B) A service helps satisfy unlimited wants, but a good does NOT. 
C) A service is available in unlimited quantities, but a good is NOT. 
D) A good is available in unlimited quantities, but a service is NOT.

Quizplus · Accepted Answer

A good is a tangible product, such as a physical item, while a service is intangible, such as an action or a performance. Therefore, option A is the correct answer. Option B is incorrect because goods can also satisfy unlimited wants. Option C and D are incorrect because both goods and services have limitations in availability.

What Is the Major Difference Between a Good and a Service