Goods that are sold to consumers are referred to as consumer goods. Consumer goods can either be used in the home or school or for recreational purposes. On the other hand, activities provided by people are referred to as services. Examples of service providers include doctors, dentists, barbers, waiters, online servers, etc. When it involves consumer goods, there are three types – durable goods, nondurable goods, and services. Examples of non-durable goods are food & drinks.
The term goods and services together refer to the consumption and spending of money by consumers. Goods and services complement each other. For example, consumers who purchase gasoline for their vehicle also pay for its transportation.