In Services, the Product Is Developed First and Then the Process

question 25

True/False

In services, the product is developed first and then the process to produce the service is developed.

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Definitions:

Capital

Resources made available for the use in the production of goods or services, often categorized into financial, human, or physical forms.

Conditions

The set of circumstances or criteria that affect financial decisions or the outcome of investments.

Capacity

The maximum level of output that a company can sustain to produce in a given period under normal circumstances.

Collateral

An asset that a borrower offers to a lender as a security for a loan, which can be seized if the loan is not repaid.