When a Service Is Produced and Marketed Simultaneously,it Is Representative

question 34

Multiple Choice

When a service is produced and marketed simultaneously,it is representative of the unique characteristic of a service that relates to its _____.

• A)intangibility
• B)perishability
• C)inseparability
• D)uniformity

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Definitions:

Price Index

An average that measures the change in prices paid by consumers for goods and services over time, indicating inflation or deflation.

GDP

Gross Domestic Product, a measure of the economic performance of a country, indicating the total value of all goods and services produced over a specific time period.

Price Index

A measure that examines the weighted average of prices of a basket of consumer goods and services, used to estimate inflation.

Real GDP

Real Gross Domestic Product (Real GDP) is an inflation-adjusted measure that reflects the value of all goods and services produced by an economy in a given year, providing a more accurate representation of an economy's size and growth rate.