MANAGEMENT

Detailed explanation-1: -Items: These are physical objects that can be touched and bought and sold. 2. Products: These are physical objects that have been created and are ready for sale.

Detailed explanation-2: -Physical products include durable goods (like cars, furniture, and computers) and nondurable goods (like food and beverages). Virtual products are offerings of services or experiences (such as education, software, and streaming services).

Detailed explanation-3: -Physical product is product which can be touched physically and can be shipped to customer after selling it. The examples of physical products are table, chair, laptop, mobile and anything which is physically touchable.

Detailed explanation-4: -Goods are physical, produced objects for which a demand exists, over which ownership rights can be established and whose ownership can be transferred from one institutional unit to another by engaging in transactions on markets.