Which of the Following Is NOT a Correct Statement

question 12

Multiple Choice

Which of the following is NOT a correct statement?

• A) A service is produced and consumed simultaneously.
• B) Services are provided in a bundle of services and goods.
• C) The service delivery system should be designed primarily around the employees in the system.
• D) Low-contact services can usually be made more efficient than high-contact services.

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Definitions:

Incentive

A factor, either monetary or non-monetary, that motivates individuals or entities to perform an action or engage in a certain behavior.

Long Run

A period of time in economics sufficient for all markets to adjust to changes, including those of supply and demand.

Economic Profits

The total revenue of a business minus its explicit and implicit costs; a measure of incremental gain over the total costs, including opportunity costs.

Supply Curve

A graph showing the relationship between the price of a good and the quantity supplied by producers.