Which of the Following Is an Accurate Comparison of Products

question 6

Multiple Choice

Which of the following is an accurate comparison of products and services?

• A)Services are produced at one point and sold at another;products are not.
• B)Services have tangible attributes;products do not.
• C)Services cannot be stored for future sale;products can.
• D)Services have homogeneity;products have heterogeneity.

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Definitions:

Functional Chimneys Problem

Issues arising from the lack of communication and coordination among different departments within an organization, leading to siloed operations.

Ecological Fallacy

The assumption that a generalized cultural value applies equally well to all members of the culture.

Natural Monopoly

A market situation where a single firm can supply a product or service to an entire market at a lower cost than what two or more firms can.

Long Run

In economics, a period during which all inputs, including capital, are variable and firms can enter or exit the industry, allowing full production adjustment.