The Four Elements of Services Include

question 11

Multiple Choice

The four elements of services include:

• A) Intangibility, perishability, inseparability, heterogeneity
• B) Consistency, tangibility, homogeneity, purchase
• C) Purchase, consistency, tangibility, heterogeneity
• D) Convenience, tangibility, inseparability, heterogeneity

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Definitions:

Satisfaction

A measure of how goods, services, or outcomes meet or exceed expectations, often related to customer or user experience.

Land Market

The input/factor market in which households supply land or other real property in exchange for rent.

Rent

A payment made for the temporary use of a good, service, or property owned by another.

Demand Shift

A change in the quantity of a product that consumers are willing and able to buy at each and every price level, caused by factors other than the product's price.