Question

How is an iPhone XS Max both a good and service? Write two paragraphs explaining how.

Answer 1

An iPhone XS Max can be both a good and service.

Goods are the tangible objects that could be touched, exchanged, bought etc. So iPhone is a good because it is tangible, would have been brought from the store in exchange of money and could be sold in future for money.

Services are intangible in nature ie could not touched and are usually the facilities or benefits provided to individuals to satisfy their wants. This is also what iphones provide for. They have virtual assistants which help them with the services like gps, booking tickets or ordering food or appointments and many such features. These are the services.

Eg: booking flight tickets was earlier done by tour operators. They were providing amenities to the people. This is now done with the assistance of either the virtual assistant or by means of few clicks on phone. So this is a type of service as well.

Hence it works as both service and good.

(You can comment for doubts)