Services Are Characterized by All of the Following Characteristics Except

question 40

Multiple Choice

Services are characterized by all of the following characteristics except:

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

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Definitions:

Prime Rate

The interest rate that banks charge their most creditworthy customers, often used as a benchmark for other rates.

Floating Rate Option

An option in a financial instrument that allows for a variable interest rate that adjusts periodically with market conditions.

Grace Period

A set time period after a payment is due during which a late fee is not charged, allowing a short extension for the payment without penalty.

Principal

The initial sum of money placed in an investment or lent out, excluding any interest or earnings.