The main difference between the production of services and the production of manufactured goods is that there is no sense of physical touch in the production of services, as they can only be provided to the consumer. However, the goods are manufactured, and also have a scope of physical touch.
Production of goods and services is a technique commonly practices by all the producers or suppliers within an economy in order to gain monetary returns. Under the production of services, labor is the most utilized factor of production, and under the production of goods, labor as well as capital are utilized by the producer.
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