Which of the Following Attributes Is Most Typical of a Service

question 16

Multiple Choice

Which of the following attributes is most typical of a service?

• A) production and consumption occur simultaneously
• B) tangible
• C) mass production
• D) consistency
• E) easy to automate

---

Definitions:

Oligopoly

A market structure characterized by a small number of firms dominating the market, leading to limited competition and often strategic behavior amongst competitors.

Interdependence

A situation in which the outcome or payoff for each participant depends on the actions of others, commonly found in competitive and cooperative environments.

Market Structure

The organizational and other characteristics of a market that significantly affect the nature of competition and pricing within the market.

Product Diversity

The range of different products or services offered by a company or available in a market.