Answered: Which is NOT a characteristic of a…

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

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Question

Question 14

Which is NOT a characteristic of a service?

Group of answer choices

a. Services are intangible

b. Services usually cannot be resold

c. Services are easily transported

d. Ownership of services usually is not transferred

e. Services usually cannot be stored

Expert Solution

Introduction

Services are intangible in nature, that is, they cannot be physically touched. However, the impact of the service can be felt. Services are usually taken for self and in most cases cannot be resold. Services once consumed cannot be traded like a tangible products. The services are particularly assigned based on ownership. For instance, free car service can only be availed by the service providing the manufacturer's car and not by any other manufacturer's cars. The services cannot be stored like we store tangible products such as dairy, food, told, etc. Services can only be availed at the time when it is due.