The Intangibility Element of a Service Refers to the Fact

question 167

Multiple Choice

The intangibility element of a service refers to the fact that it

• A) has value that can only be determined by using subjective criteria.
• B) can't be held, seen, or touched before the purchase decision.
• C) requires the ability to provide the service even in times of no demand.
• D) can maintain or accumulate good will with customers.
• E) can be objectively evaluated.

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Definitions:

Federal Deficit

The fiscal year difference when the U.S. Government's expenditures exceed its revenues, necessitating borrowing to cover the gap.

Real GDP

The measure of a country's economic output adjusted for inflation, reflecting the true value of goods and services produced.

Loanable Funds

A concept in economics that describes the market where borrowers obtain funds from savers, influenced by interest rates.

Interest Rates

The cost of borrowing money, expressed as a percentage of the amount borrowed, paid by the borrower to the lender for the use of their funds.