A Physician Might Deal with Potential Problems Associated with the ________

question 67

Multiple Choice

A physician might deal with potential problems associated with the ________ characteristic of services by providing physical cues such as her medical diplomas hanging on the wall of the examining room.

• A) intangibility
• B) perishability
• C) variability
• D) inseparability
• E) personalization

---

Definitions:

Factors Of Production

Factors of production are the inputs needed for the creation of a good or service, including land, labor, capital, and entrepreneurship.

Unemployment Of Resources

Unemployment Of Resources refers to a situation where factors of production, such as labor and capital, are not being used in the production process.

Production Possibilities Curve

A graphical representation of the maximum quantities of two goods or services that an economy can produce when utilizing its resources fully and efficiently.

Circular Flow Diagram

A visual model of the economy that shows how dollars flow through markets among households and firms, illustrating the interdependencies of economic activities.