Why Are Services Typically More Difficult to Standardize, Automate, and Make

question 46

Essay

Why are services typically more difficult to standardize, automate, and make efficient?

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Definitions:

Payroll Tax

Taxes levied on employers or employees, and are based on the salary or wages of employees. These taxes fund social security and healthcare programs.

Elastic

describes a condition in which the quantity demanded or supplied of a good or service is highly responsive to changes in its price.

Corporate Profits Tax

A levy imposed on the income or profit earned by corporations or analogous legal entities.

Partnerships

A legal form of business operation between two or more individuals who share management and profits.