In Terms of Perishability,which of the Following Is a Difference

question 75

Multiple Choice

In terms of perishability,which of the following is a difference between services and goods?

• A)Services often can be separated from the person providing them,while goods cannot be usually sold by different people.
• B)Services generally solicit minimal customer interaction,while goods involve significant levels of customer interaction.
• C)Services can be used only at the time they are offered,while goods can be placed in an inventory.
• D)Services can be stored and transported across geographical regions,while goods cannot be inventoried for use at another time.

---

Definitions:

Quantity Supplied

The volume of a good or service that manufacturers are prepared and able to offer for sale at an established price within a given interval.

Quantity Demanded

The aggregate quantity of a product or service that buyers intend to buy at a specific price point within a certain timeframe.

Product Decreases

Situations where the output of goods or services declines due to various factors like reduced demand, inefficiency, or resource limitations.

Price Floors

are government-imposed limits on how low a price can be charged for a product, with the aim to ensure fair compensation for producers.