Which of the Following Is the Best Example of a Service

question 93

Multiple Choice

Which of the following is the best example of a service?

• A) a new suit of clothes
• B) a splint to treat a sports injury
• C) a seminar on how to plan for retirement
• D) popcorn sold at a school fund-raiser
• E) canned goods donated to a food pantry

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Definitions:

Disposable Income

Economic latitude for households in spending and saving after the removal of income taxes.

APS

Automatic positioning system; however, in an economic context, it often refers to the Average Propensity to Save, indicating the proportion of income that is saved rather than spent.

Saving

The portion of income not spent on immediate consumption but set aside for future use, typically in bank accounts, investments, or other forms of financial savings.

Disposable Income

The spending and saving financial capacity of households after deductions for income taxes.