The Basic Difference Between a Good and a Service Is

question 86

Multiple Choice

The basic difference between a good and a service is that a good

• A)provides intangible benefits.
• B)can be physically touched.
• C)is always less expensive than a corresponding service.
• D)generates greater interest among consumers.
• E)is more quickly forgotten by consumers.

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Definitions:

Supply Chain Profit

The total profit generated by all entities involved in the supply chain, from the production of raw materials to the final sale to the consumer.

Vertically Integrated

A business strategy where a company controls multiple stages of production or distribution within the same industry, often from raw materials to final product delivery.

Optimal Order

The best or most efficient order quantity that minimizes total inventory costs, including order costs, holding costs, and stockout costs.

Supply Chain

The entire network of entities involved in creating and delivering a product or service, from raw materials to final consumption.