It Is Difficult to Maintain Consistent Quality in Services Because

question 135

Multiple Choice

It is difficult to maintain consistent quality in services because ______.

• A) Services, unlike goods, are nonperishable
• B) as opposed to products, services are tangible in nature
• C) service providers often have to interpret each customer's needs
• D) variability is reduced as more humans are involved in delivery
• E) most of the time it requires minimum human interaction

Distinguish between market, command, and mixed economic systems.

Comprehend the principles of self-interest and competition in market economies.

Understand the importance and implications of private property rights.

Identify the characteristics and consequences of various market systems.

---

Definitions:

Borrowed Money

Funds that an individual or entity obtains from another party under the condition of future repayment with interest, which can be used for various purposes.

Debt Paying Ability

Debt paying ability indicates an entity's capacity to repay its debt obligations based on its financial situation, including liquidity ratios and income.

Acid-test Ratio

A stringent indicator of a company's liquidity, calculating its ability to cover short-term obligations with its most liquid assets, excluding inventory.

Inventory Turnover

A measure of how often a company's inventory is sold and replaced over a certain period of time, indicating efficiency in inventory management.