Explain the four ways in which a service is distinguished from a good
What will be an ideal response?
Unlike goods, services possess the defining characteristics of variability, perishability, inseparability, and intangibility. Intangibility refers to the fact that a service cannot be perceived by the five senses until it is created and consumed. Inseparability refers to the fact that a service cannot be separated from its means or manner of production. Perishability refers to the fact that a service cannot be stored for later use and must be consumed upon delivery. Variability refers to the fact that the quality of a service may vary from experience to experience.
You might also like to view...
________ is a type of political risk that OPIC does NOT cover
A) Inconvertibility B) Expropriation C) War D) OPIC covers all of the above.
A printer that forms images without striking the paper is
A. an impact printer C. a laser printer. B. a nonimpact printer. D. both B and C.