What do we call intangible items that hold monetary value by satisfying needs and wants?

Intangible items that hold monetary value by satisfying needs and wants are referred to as services. Services are characterized by their non-physical nature; they are actions, performances, or benefits provided by one party to another. Unlike goods, which are tangible products that can be touched and owned, services cannot be stored or owned in the same way. They represent value through the provision of assistance, expertise, or performance, directly addressing the demands of consumers. This concept is central to understanding the service sector of the economy, which is a significant contributor to overall economic activity.

In contrast, goods are tangible items, assets represent possessions that can provide future economic benefits (both tangible and intangible), and products generally encompass both goods and services offered to the market. Therefore, the direct focus on the intangible nature of services and their role in fulfilling consumer needs and wants makes this option the most accurate choice.