Which of the Following Statements Best Describes a Service

question 59

Multiple Choice

Which of the following statements best describes a service?

• A)Services are physical objects.
• B)Services are intangible items.
• C)Services are thoughts about concepts,actions,or causes.
• D)Services are the benefits organizations receive in exchange for selling products.
• E)Services comprise the subset of tangible features of products.

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Definitions:

Cost-benefit Analysis

Cost-benefit analysis is a process used to evaluate the total anticipated cost of a project compared to the benefits in order to determine the best course of action.

Outsourcing

The practice of hiring third parties to perform services or produce goods that were traditionally performed or produced in-house.

Productivity Losses

The decline in the effectiveness or efficiency of a workforce, often leading to a decrease in output, revenue, or service quality.

Potential Outsourcing

The possibility of transferring certain job functions or services to external providers to increase efficiency or reduce costs.