The Rise of Services in the Global Economy
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Questions and Answers

Which of the following is a characteristic that makes services unique?

  • Consistency
  • Standardization
  • Perishability (correct)
  • Durability

    • What is the significance of services to the global economy according to the World Bank?

  • USD 26 trillion in 2021
  • USD 26 trillion in 2000
  • USD 62 trillion in 2021 (correct)
  • USD 62 trillion in 2000

    • What is the main challenge when it comes to quality inspections of services?

  • Perishability
  • Intangibility (correct)
  • Heterogeneity
  • Inseparability

    • What is an example of a long-term service requirement?

    <p>Office cleaning</p> Signup and view all the answers

    What should procurement professionals do to ensure value-for-money outcomes for services?

    <p>Get clear specifications from stakeholders</p> Signup and view all the answers

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