It Can Be Extremely Difficult for Service Providers to Accurately

question 57

Multiple Choice

It can be extremely difficult for service providers to accurately estimate the demand for a service in order to match the right supply of the service because:

• A)services cannot be customized.
• B)services are not produced at the point of consumption.
• C)of the perishability of services.
• D)of the tangibility of services.
• E)services are highly standardized.

Comprehend the significance of the production possibilities curve (PPC) and what points on, inside, and outside the curve represent.

Recognize the concepts of economic efficiency, unemployment, and the potential for economic growth.

Understand the difference between economic resources and non-resources, especially the role of money in the economy.

Explain the effects of technological advancements and resource changes on the production possibilities curve.