Goods & services, products, commodities, and ‘replicated goods’

Goods & services are tangibles and activities that are assumed to benefit purchasers or users in terms of their needs or wants.

Products are goods and services classified by producing industries.

Commodities are groups of similar goods, usually raw materials and foods.

Replicated goods and services are items indistinguishable to the purchaser by location and time, e.g. multiple items of supermarket shelves or internet checkouts.

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