Every Service Has a Service Package, Which Is Defined as a Bundle

question 54

Multiple Choice

Every service has a service package, which is defined as a bundle of goods and services provided in some environment. The service package consists of five features. Which of the following is not one of these features?

• A) Supporting facility
• B) Facilitating services
• C) Information
• D) Explicit Services
• E) Implicit Services

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Definitions:

Principals

Individuals or entities who authorize agents to act on their behalf in various transactions or decisions.

Information Problems

Issues arising from asymmetrical information between buyers and sellers, where one party has more or better information than the other, leading to suboptimal market outcomes.

Inefficient Outcomes

Situations in which resources are not allocated optimally, leading to lost potential value or benefits in an economy or system.

Public Sector

Part of the economy that is controlled by the government, including all public services and government-owned entities.