Inseparability Refers to the

question 97

Multiple Choice

Inseparability refers to the

• A)nonphysical nature of services as opposed to products.
• B)fact that production and consumption are inseparable for services.
• C)greater chances for variation in the performance of services than in the production of products.
• D)fact that services cannot be inventoried but must be consumed when performed.

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Definitions:

Loanable Funds

The funds available in the financial markets for borrowing, influenced by savings, the policy rate, and other factors.

Equilibrium Level

The state at which market supply and demand balance each other, and, as a result, prices become stable.

Surplus

A situation in which the quantity of a good or service available exceeds the quantity demanded at the current price.

Loanable Funds

The total resources or funds available for borrowing in the financial markets, used for investments and other purposes.