Which of the Following Is True of Services Offered by Business

question 128

Multiple Choice

Which of the following is true of services offered by business organizations?

• A)The tangibility of services can be reduced through training and standardization.
• B)Marketing of services is less challenging compared to marketing of products.
• C)The inconsistent nature of services does not provide an opportunity for marketers to use it to their advantage.
• D)The perishability of services is a challenge for marketers as they have to match the demand and supply.
• E)Services cannot be produced and consumed at the same time.

Interpret graphical representations of cost and production functions to analyze economic situations.

Calculate average product and understand its relevance to production efficiency.

Understand the behavior of cost curves, including average and marginal cost relationships.

Comprehend how fixed and variable costs contribute to total cost.

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Definitions:

Unearned Revenue

Money received by a company for goods or services yet to be delivered or performed, representing a liability until the obligation is fulfilled.

Quarterly Journals

Quarterly journals are publications that come out four times a year, offering articles, research, and updates on specific field of interests.

Advance Subscription Sales

Revenue received from customers for subscriptions that have been paid for in advance but the services have not yet been delivered.

Company Mails

Refers to the official correspondences, both electronic and physical, distributed within or from a company.