An Example of a Service, Rather Than a Tangible Product

question 151

Multiple Choice

An example of a service, rather than a tangible product, would be

• A) radios.
• B) cloths.
• C) trucks.
• D) medical exams.

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Definitions:

Marginal

Refers to the change or difference in an economic variable when altering another variable by a small or marginal amount.

Welfare Dependency

A situation where individuals or families continually rely on government welfare programs for their income over long periods, rather than seeking employment.

Billionaires

Individuals whose net worth or wealth is equal to or exceeds one billion units of a currency.

Income

The financial earnings received by an individual or entity, typically measured over a set period of time, from work (wages) or investments (interests, dividends).