Services Are Defined as

question 220

Multiple Choice

Services are defined as

• A) the tangible activities or benefits that an organization provides to satisfy consumers' needs in exchange for money or something else of value.
• B) the activities provided to complement a tangible good, such as technical support for a computer.
• C) the intangible activities or benefits that an organization provides to satisfy consumers' needs in exchange for money or something else of value.
• D) any activity required for the production of a good that cannot be completed "in-house" and must be outsourced to another firm.
• E) the human (nonmechanical) component that is part of the manufacturing process.

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Definitions:

Social Regulation

Laws and rules designed to protect public welfare, including health, safety, and environmental quality.

Industrial Regulation

The set of laws and rules governing the operation and behaviors of companies within specific sectors to ensure fair competition and protect consumers.

Antitrust Regulation

Laws designed to promote competition and prevent monopolies by regulating corporate mergers and breaking up companies when necessary.

Regulation

Rules or directives made and maintained by an authority to control or manage activities, often to protect public interests.