Which One of the Following Statements Concerning the Difference Between

question 15

Multiple Choice

Which one of the following statements concerning the difference between services and goods is INCORRECT?

• A) Services are intangible or immaterial.
• B) Services are perishable.
• C) Services are never standardized.
• D) The service provider is the service.

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Definitions:

Tangible Costs

Direct expenses that a company can easily measure and account for, such as raw materials, labor, and overhead costs.

Location Decisions

The process of choosing geographical locations for business operations, factoring in costs, convenience, logistics, and strategic objectives.

Location Decision

The process of determining the best place for a business to operate in terms of costs, resources availability, logistics, and market accessibility.

Maximize Profit

The strategy of making business decisions that increase the difference between total revenue and total cost to the highest possible level.