What Is A Product?

 What Is A Product?

A product is any item that you can sell to someone else in exchange for cash or barter.

It could be a piece of produce, an electronic gadget, or a comfy couch. Until the Internet altered commerce for the better, a product was always a physical object or item — something to distinguish it from a service.

It was something you could pick up, see, smell, hear, or even taste. That’s changed now that many entrepreneurs start businesses online.

The virtual world has opened up a new category of products (which will get into later).

The point, however, is that a product is something you sell. Most often, you ask for money in exchange for the product.

That’s how you earn a living. Products differ from services in that there’s no obligation beyond the transaction. The product already exists, so there’s no further work for the seller to perform.