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Question
Distinguish between goods and services.
Distinguish Between
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Solution
| Goods | Services |
| Goods are tangible | Services are intangible |
| Goods can be separated from their owner | Services cannot be separated from their owner |
| Eg: Table, chair, Apple, etc., | Service of a teacher, Lawyer, cook in a hotel, etc., |
| Goods are products | Services are activities |
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Composition of Gross Domestic Product (GDP)
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