Goods and/or Services in Different Industries

Goods and/or Services in Different Industries

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.