Which of the Following Is Not a Service Product

question 44

Multiple Choice

Which of the following is not a service product?

• A) Maroon 5 concert
• B) Flight on Southwest Airlines
• C) A 100 percent service satisfaction guarantee
• D) Overnight stay at Holiday Inn
• E) Dry cleaning of a suit

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Definitions:

Market Price

The current price at which a good or service can be bought or sold on the market.

Marginal Decision Rule

A principle stating that an action should be taken if, and only if, the marginal benefit is greater than or equal to the marginal cost.

Economic Profit

The measure of difference between total financial returns and comprehensive charges, taking into both explicit and silent costs.

Market Price

The existing price point for transactions involving an asset or service in the market.