what is included in “final goods and services” in the definition of GDP

Question

As we know , the definition of gdp “GDP measures the monetary value of final goods and services”

Ive also heard that GDP = C + I + G + (X-M)

So im trying to reconcile these two definitions.
I know that the goods and services people buy are included in C and that’s what the only thing i thought about when i thought of “final goods and services” ,
So what is included in I and G.

Suppose a company invests in building an oil well, so is that also considered a “final good” ?

And what about G ? what final good or service does the govt create/provide

In: 5

Answer 1

Goods and services are traded in market, so oil well is investment and not goods and services.

Govt provides all judiciary, police, fire department etc..etc which are services.