In General, Differences Between Goods and Services Are Determined by the

question 176

Multiple Choice

In general, differences between goods and services are determined by the

• A) degree of labor intensiveness.
• B) type of target market.
• C) degree of tangibility.
• D) type of provider.
• E) degree of consumer contact.

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Definitions:

Mutually Exclusive

A characteristic of events that cannot occur at the same time, indicating a clear separation or distinction between them.

Collectively Exhaustive

A property of a set of events that ensures all possible outcomes are covered, leaving no possibility out.

Probability

A numerical measure of the likelihood of a specific event occurring, ranging from 0 to 1.

Mutually Exclusive

Mutually exclusive refers to events in probability and statistics that cannot occur at the same time, indicating that the occurrence of one event necessarily excludes the occurrence of the other.