Which of the Following Is the Best Example of a Service

question 38

Multiple Choice

Which of the following is the best example of a service firm that attracts customers with low base prices and then piles on additional fees.

• A)Rental cars
• B)Fast food
• C)Education
• D)Roofing
• E)Consulting

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Definitions:

Economic Policy

Strategies and measures adopted by governments or economic institutions to regulate and guide the economy towards desired goals.

Economic Models

Simplified representations of complex economic processes, using equations, graphs, or diagrams to study the behavior and interactions of various economic variables.

Simplifying Assumptions

Basic assumptions made in economic models to reduce complexity and make analysis more manageable, often by ignoring less relevant factors.

Consumer Goods

Items bought by the general public for personal use.