Because Services Are ________,They Cannot Be Produced Ahead of Time

question 169

Multiple Choice

Because services are ________,they cannot be produced ahead of time.

• A) transformed
• B) low-contact
• C) unstorable
• D) intangible

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Definitions:

Substitutes

Goods or services that can replace each other in use, whereby an increase in the price of one leads to an increase in demand for the other.

Quantity Of Zero

A condition where the quantity of a good or service supplied or demanded is zero, often due to a price set below or above the market equilibrium.

Current Demand

The existing desire or need for a product or service within a market at a specific point in time.

Complements

Goods or services that are used together, where an increase in the consumption of one leads to an increase in the consumption of the other.