Services Are

question 142

Multiple Choice

Services are

• A) the tangible activities or benefits that an organization provides to satisfy consumers' needs in exchange for money or something else of value.
• B) the activities provided to complement a tangible good, such as technical support for a computer.
• C) any activity required for the production of a good that cannot be completed in-house and must be outsourced to another firm.
• D) the human (nonmechanical) component that is part of the manufacturing process.
• E) the intangible activities or benefits that an organization provides to satisfy consumers' needs in exchange for money or something else of value.

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Definitions:

Third Parties

Entities or individuals that are not directly involved in a transaction or agreement but may be affected by or have an interest in its outcome.

Arbitraging

The practice of buying a good in one market at a lower price and selling it in another market at a higher price to profit from the price difference.

Price Discriminate

The practice of selling the same product or service at different prices to different customers, based on what the seller believes each customer is willing to pay.

Vertical Relationships

Business arrangements or interactions between companies at different levels of the supply chain, such as manufacturers and retailers.