I’m not sure this is the category. Anyway, thinking about the new option introduced in 1.2 about ‘products’ maybe the word ‘item’ or ‘article’ should fit better the concept, as many companies can have both products or services (or just one of them).
Product used to be related with something stockable what you can buy and sell or even manufacture. Services are basically human resources, so a good word to combine them can be ‘item’.
Just a suggestion.
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I think this is something we’ll change “back” in v2. We introduced products as a replacement for items so it may be really confusing if we change this again.
What about “inventory”? 
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Right word would be Articles
Article can be any product or service…
No matter this is product or item, I suggest it allow the price to be empty when creating the product, as a service, most service have no fix price.
Kelvin