Which of the Following Statements Is True of Service Facilities

question 10

Multiple Choice

Which of the following statements is true of service facilities

• A) They need to be in close proximity to customers.
• B) They store their services as physical inventory.
• C) They require employees with stronger technical skills than behavioral skills.
• D) They rely more on hard technology than soft technology to perform work.

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Definitions:

Price Effect

The impact that changes in price have on the consumer's choice and allocation of their income.

Quantity Demanded

The total amount of a good or service that consumers are willing and able to purchase at a given price level in a given period.

Determinants of Demand

Factors that influence the quantity of a product or service that consumers are willing and able to buy at a given price.

Sum of Demand Curves

The aggregate demand curve that is obtained by horizontally adding individual demand curves in a market.