The amount paid to suppliers for goods and services.
things that are produced by a country's economy, for example goods include food, clothing, machines, and new roads, services include those of doctors, teachers, merchants, construction workers, and government officials.
Goods are tangible, transportable supplies. Services are intangible supplies or effort, such as consultancies (other than building and construction related consultancies).
"Goods" is defined in section 2 of the GST Act as all kinds of real or personal property other than choses in action[40] or money. "Services" is defined as anything which is not goods or money. Therefore money is not part of the GST base, and choses in action are treated as services.
a representative sample, or market basket, of all items and services purchased in the following categories: food at home (meat, fish, and dairy; groceries; fruits and vegetables); tobacco and alcohol; personal care, furnishings and household operations; clothing; medical care; recreation; transportation (public and private); domestic service; and food away from home. The market basket is priced in both the home country and assignment location to determine cost differences and compute the goods and services index.
goods are items which are purchased and services mean hired labour. (Examples: since food is bought for the workers on the rig, goods have been purchased. The food is transported to the rig by the supply vessels, which have been contracted to provide services.)
In economics, economic output is divided into physical goods and intangible services. Consumption of goods and services is assumed to produce utility (unless the "good" is a "bad"). It is often used when referring to a Goods and Services Tax..