goods products

What Is Difference Between Goods And Services?

by

What Is Difference Between Goods And Services? ‘Goods’ are the physical objects while ‘Services’ is an activity of performing work for others. Goods implies the tangible commodity or product, which can be delivered to the customer. … One of the main difference between goods and services is that the former is produced and the latter

What Products Would Be Used In Calculating GDP?

by

What Products Would Be Used In Calculating GDP? The calculation of a country’s GDP encompasses all private and public consumption, government outlays, investments, additions to private inventories, paid-in construction costs, and the foreign balance of trade. (Exports are added to the value and imports are subtracted). What type of products would be calculated in GDP?