The Use of Brand Names Is Especially Important for Services

question 70

Multiple Choice

The use of brand names is especially important for services because of which unique characteristic of services?

• A)intangibility
• B)inseparability
• C)inconsistency
• D)invisibility

---

Definitions:

Required Reserves

The minimum amount of funds that a bank is required to hold in reserve against deposits, as mandated by central banking regulations.

Demand Deposits

Bank accounts that allow the holder to withdraw funds without prior notice, such as checking accounts.

Time Deposits

Savings accounts or certificates of deposit that hold a fixed sum of money for a specified period of time, during which the depositor cannot withdraw the funds without penalty.

Required Reserves

The minimum amount of reserves a bank must hold as mandated by regulatory authorities, based on a percentage of the bank's deposit liabilities.