Along the Service-Product Continuum,which of the Following Would Be Considered

question 116

Multiple Choice

Along the service-product continuum,which of the following would be considered the most product dominant?

• A) grocery store
• B) auto repair shop
• C) doctor's office
• D) cell phone service provider
• E) restaurant

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Definitions:

Price Changes

Variations in the cost of goods or services in the market over a period of time, influenced by factors such as supply and demand.

Income Elasticity

A measure of how much the demand for a good or service changes in response to changes in consumer income.

Inferior Good

A type of good whose demand decreases when consumers' income increases, opposite to normal goods.

Demand Elastic

A measure of how sensitive the quantity demanded of a good or service is to a change in its price.