Goods vs Services

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Questions and Answers

Which one of these is a basic difference between goods and services?

Goods are only used once, while services can be used multiple times
Goods are provided by individuals, while services are provided by businesses
Goods are intangible, while services are tangible
Goods are tangible, while services are intangible (correct)

What is the importance of managing the overall customer experience?

To create new products and services
To ensure a positive and memorable experience for the customer (correct)
To increase competition among businesses
To minimize costs for the business

What is a service economy?

An economy where the majority of economic activity is focused on the provision of services (correct)
An economy where the majority of economic activity is focused on mining
An economy where the majority of economic activity is focused on agriculture
An economy where the majority of economic activity is focused on the production of goods

What are the types of ethical issues that often arise in the business sector?

<p>Discrimination, fraud, and conflicts of interest (A)</p> Signup and view all the answers

What are the six steps that comprise the consumer decision process model?

<p>Need recognition, information search, evaluation of alternatives, purchase decision, post-purchase evaluation, and disposal (B)</p> Signup and view all the answers