Types of ‘Goods’ can include:

• Standardised goods: mass produced, uniform quality
• Customised goods: vary according to customer needs
• Perishable goods: short lead times, quick effective distribution, may need cold storage or packaging
• Non-perishable goods
• Intermediate goods: processed more than once

Types of ‘Services’ can include:

• Self-service
• Standardised
• Customised

Examples of Industries

• Manufacturing Industry:
  • Outputs are tangible
  • Can be stored
  • Productivity is easily measurable
  • Capital intensive
• Service Industry:
  • Intangible
  • Labour intensive
  • High customer interaction
  • Easy to modify and customize
  • Productivity is hard to measure

Extract from Business Studies Stage 6 Syllabus. © 2010 Board of Studies NSW.