Because Little or No Inventory Is Carried in a Service

question 62

True/False

Because little or no inventory is carried in a service operation, it is easy to separate the operations management functions from marketing in services.

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Definitions:

Public Goods

Products or services that are non-excludable and non-rivalrous, meaning they can be consumed by one person without preventing simultaneous consumption by others.

Common Resources

Resources that are not owned by anyone, but are available for use by everyone, often leading to overuse and depletion.

Total Surplus

The sum of consumer surplus and producer surplus, representing the total net benefit to society from the production and consumption of goods and services.

Cleaning Hours

Refers to the quantity of labor or time allocated specifically for the purpose of cleaning within a given period.