Because of a Service's ____, Standardization and Quality Are Difficult

question 35

Multiple Choice

Because of a service's ____, standardization and quality are difficult to control.

• A) intangibility
• B) inseparability
• C) homogeneity
• D) heterogeneity
• E) perishability

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Definitions:

Absolute Advantage

The ability of a country to produce a good at a lower cost than its trading partners.

Protective Tariffs

Taxes imposed on imported goods to protect domestic industries from foreign competition by making the imported goods more expensive compared to local products.

Trade Deficit

A situation where a country’s imports exceed its exports during a given time period, leading to a negative balance of trade.

Capital

All means of production (mainly plant and equipment) created by people.