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Questions and Answers
Which of the following best describes a good?
Which of the following best describes a good?
- A service that can only be rendered online.
- A task performed by a professional.
- An intangible benefit received after a purchase.
- An item that can be physically handled. (correct)
What distinguishes a service from a good?
What distinguishes a service from a good?
- A service is a tangible item.
- A service can be bought or sold.
- A service is an action performed for payment. (correct)
- A service is always free of charge.
Which of the following is categorized as a service?
Which of the following is categorized as a service?
- A book loaned from a library.
- A haircut provided by a barber. (correct)
- A loaf of bread purchased at a store.
- A smartphone bought from a retailer.
Which statement about goods is incorrect?
Which statement about goods is incorrect?
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Why are services categorized differently from goods?
Why are services categorized differently from goods?
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