Which of the Following Characteristics of a Service Does Not

question 14

Multiple Choice

Which of the following characteristics of a service does not allow sellers to choose multitiered and long traditional channels of distributions to sell their services?

• A) Perishability
• B) Intangibility
• C) Heterogeneity
• D) Market transparency

Recognize the short-term and long-term nature of unemployment spells and their implications for policy.

Understand the relationship between stress and behaviors such as overeating, smoking, and alcohol consumption.

Identify subtypes of internet addiction and misconceptions about it.

Recognize the effects of media violence and aggressive behavior on individuals.

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Definitions:

Market Price

Today's rate at which one can sell or buy a service or asset.

Not Binding

A term used to describe a situation where a constraint or limit (such as a price ceiling or floor) does not affect the equilibrium outcome of the market.

Equilibrium Price

The market price where the quantity of goods supplied equals the quantity of goods demanded.

Quantity Demanded

The aggregate quantity of a product or service that buyers are prepared and able to buy at a specific price.