What Are Services

question 103

Multiple Choice

What are services?

• A) Material items or products that customers will buy to satisfy a want or need
• B) Tasks performed by people that customers will buy to satisfy a want or need
• C) The process where a business takes raw materials and processes them or converts them into a finished product for its goods or services
• D) The rate at which goods and services are produced based upon total output given total inputs

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Definitions:

Currency Risk

The potential for financial loss due to fluctuations in foreign exchange rates affecting investments or business operations involving different currencies.

Foreign Currencies

Currencies used in countries other than one's own, involved in international trade and finance transactions.

Labour Content

The total amount of work or labor hours required to complete a unit of production.