What does goods and services mean?

Definitions for goods and services
goods and ser·vices

Here are all the possible meanings and translations of the word goods and services.


  1. Goods and services

    Goods are items that are usually (but not always) tangible, such as pens, salt, apples, and hats. Services are activities provided by other people, who include doctors, lawn care workers, dentists, barbers, waiters, or online servers, a book, a digital videogame or a digital movie. Taken together, it is the production, distribution, and consumption of goods and services which underpins all economic activity and trade. According to economic theory, 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 (see Distribution (marketing)#Channels_and_intermediaries).


  1. Goods and services

    Generally, goods and services are the outcome of human or nature efforts. In economics, economic output is divided into physical goods and intangible services. Consumption of goods and services is assumed to produce utility. It is often used when referring to a Goods and Services Tax. We satisfy our needs and wants by buying goods and services. Goods are items you can see and touch, such as a book, a pen, salt, shoes, hats, a folder etc. Services are provided by other people, such as; a doctor, a lawn mower worker, a dentist, haircut and eating in restaurants.

Editors Contribution

  1. goods and services

    The things/commodities, durables or non durables which exists in day to day activities of a person are goods.

    Submitted by anonymous on November 22, 2020  

How to pronounce goods and services?

How to say goods and services in sign language?


  1. Chaldean Numerology

    The numerical value of goods and services in Chaldean Numerology is: 8

  2. Pythagorean Numerology

    The numerical value of goods and services in Pythagorean Numerology is: 8

Examples of goods and services in a Sentence

  1. Srikanth Kondapalli:

    One of the primary concerns is the challenge to the free flow of goods and services on the high seas in recent times and strengthening the Indo-Pacific idea.

  2. Gikas Hardouvelis:

    A quantitative easing program alone is not enough to solve the Greek economy's liquidity problems, but it is one more tool of monetary policy implementation, which boosts liquidity and demand in goods and services.

  3. Hardik Shah:

    A possible solution is to waive the goods and services tax (GST) compensation cess..on coal.

  4. Ross Rubin:

    The biggest barrier down the road is whether (SWYP) offers sufficient differentiation or whether mobile commerce, smartphone initiated commerce will become the dominant way people pay for goods and services in person.

  5. Carly Fiorina:

    We are going to have to be more aggressive in helping our allies in the region push back against new Chinese aggression, whether those allies are Australia, or Japan, or the Philippines, now that China's economy is wavering a bit, I would be conducting more flyovers on the South China Sea. We cannot permit China to control a trade route through which passes $5 trillion worth of goods and services every year.

Images & Illustrations of goods and services

  1. goods and servicesgoods and servicesgoods and servicesgoods and servicesgoods and services

Translations for goods and services

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    assist or encourage, usually in some wrongdoing
    • A. gloat
    • B. caddie
    • C. abrade
    • D. abet

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