Services

question 241

Multiple Choice

Services

• A) are intangible.
• B) often have to be produced in the presence of the customer.
• C) are not easy to store.
• D) are perishable.
• E) all of these choices are correct.

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Definitions:

Specialized Tools

These are tools designed for specific tasks or industries, often enhancing efficiency or effectiveness in particular jobs or processes.

Transaction Cost

The expenses incurred when buying or selling goods or services, which may include fees, taxes, and other charges.

Contracts

Legally binding agreements between two or more parties.

Judicial System

The network of courts and tribunals responsible for interpreting and applying the law in legal cases.