Service Processes Usually Have

question 63

Multiple Choice

Service processes usually have:

• A)physical,durable output.
• B)low levels of customer contact.
• C)output that can be inventoried.
• D)low levels of capital intensity.

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Definitions:

Marginal Cost

The supplementary expense required to manufacture an additional unit of a product or service.

Crude Oil Price

Refers to the cost per barrel of unrefined petroleum, which fluctuates based on global supply and demand dynamics, geopolitical tensions, and market speculations.

Cheat

An act of dishonesty or unfairness to gain an advantage.

Monopoly

A market structure characterized by a single seller that controls the entire supply of a product or service, with no close substitutes.