Services Possess Several Distinct Characteristics Different from Physical Goods,including Intangibility,inseparability,variability,and

question 40

True/False

Services possess several distinct characteristics different from physical goods,including intangibility,inseparability,variability,and perishability.

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Definitions:

Fiat Money

Currency that a government has declared to be legal tender, despite it having no intrinsic value and not being backed by physical commodities.

Intrinsic Value

The inherent worth of an asset, independent of its market price, often based on what is fundamentally valuable about the asset.

Media Of Exchange

Objects or instruments used to facilitate the sale, purchase, or trade of goods between parties.

Demand Deposits

Bank accounts from which money can be withdrawn at any time without any notice, such as checking accounts.