Answer:
1) True
Explanation:
An intoxicated person can:
disaffirm the contract: an intoxicated person can void a contract while still being intoxicated or short after becoming sober. If the contract involves basic necessities, it can still be voided but the intoxicated person is still liable for the goods or services consumed. ratify the contract: once sober the person can ratify the contract and it becomes enforceable by all the parties.
Pamela became the intern supervisor after Hank noticed the positive way the interns respond to Pamela's management style. They trusted and respected her—even before she became the group's manager. This is an example of:
Answer:
idealized influence
Explanation:
Based on the information provided within the question it can be said that this seems to be a direct example of idealized influence. This term refers to different behaviors that make the followers of that individual feel pride for being associated with that individual, usually because they will act for the greater good. Which seems to be why the employees trusted and respected Pamela before she even became the manager.
The marketing manager would like to introduce sales commissions as an incentive for the sales staff. The marketing manager has proposed a commission of $13 per unit. In exchange, the sales staff would accept an overall decrease in their salaries of $107,000 per month. The marketing manager predicts that introducing this sales incentive would increase monthly sales by 360 units. What should be the overall effect on the company's monthly net operating income of this change?
Answer:
$17,760 increase
Explanation:
current sales = 9,800 units ⇒ projected sales = 10,160 units
current fixed expenses = $1,052,000 ⇒ projected fixed expenses = $945,000
current variable expenses = $51 per unit ⇒ projected variable expenses = $64 per unit
current income projected income
statement statement
total revenue $1,666,000 $1,727,200
variable expenses $499,800 $650,240
fixed expenses $1,052,000 $945,000
operating income $114,200 $131,960
change in operating income = $131,960 - $114,200 = $17,760
Final answer:
Introducing a sales commission incentive plan while reducing salaries by $107,000 and increasing sales by 360 units will result in a decrease in net operating income of $102,320 per month.
Explanation:
The question asks for the calculation of the overall effect on a company's monthly net operating income due to the proposed change in the sales staff's compensation structure. To calculate this, we consider the sales commission of $13 per unit and the decrease in salaries totaling $107,000 monthly. The sales are anticipated to increase by 360 units monthly due to the new incentive plan.
To compute the net impact, we take the product of the commission per unit and the increased number of units sold: $13 * 360 units = $4,680.
Then, we subtract the decrease in salaries from the increased revenue due to commissions:
$4,680 - $107,000 = -$102,320.
Therefore, the change would result in a decrease in monthly net operating income of $102,320.
In the promotion element of the marketing mix, there are four main areas. Personal selling is direct spoken communication between sellers and potential customers. Also included are publicity and advertising. The third element, sales promotion, refers to a whole host of promotion activities, other than:_______.
Answer: advertising, publicity, and personal selling- that stimulates interest, trail or purchase by final customers or others in the channel.
Explanation: Sales promotion are promotional activities used to stimulate consumers into purchasing a certain product. Sales promotion usually takes the form of giving discounted prices to customers, giving out extra incentive or gift items, freebies, voucher cards, coupon and other promotional offers which gives consumers extra material benefit when they purchase an item. Promotional offers are usually made during certain periods such as festive seasons, company anniversary or occasionally in other to drive sales or to wow customers.
Answer:
advertising, publicity, and personal selling- that stimulates interest, trail or purchase by final customers or others in the channel.
Explanation:
Sales promotion can be defined as the process by which a customer is persuaded to purchase a product. It is a short term method to boost sale of products and is rarely used for long term promotion and building of customer loyalty.
Factors to consider during sales promotion include: cost of the promotion, consistency of promotion with the brand image, and if customers will be attracted and continue buying after promotion ends.
Examples of sale promotion activities are discounts, competitions, loyalty cards and free gifts.
Sales promotion does not involve advertising, publicity, and personal selling- that stimulates interest, trail or purchase by final customers or others in the channel.
If the core part of the purchase is ___________. bad it does not affect satisfaction. good it increases satisfaction. good it decreases satisfaction. bad it increases dissatisfaction.
If the core part of the purchase is bad it increases dissatisfaction
Explanation:
A core product is a product or service of a company more closely related to its core competences. The central product allows the functionality, benefit or remedy to issues with which the customer orders the commodity.
For example, the core component of a car's ability to drive places at an easy speed is the core advantage.
When you can not give quality service to your clients, you would be disappointed and depressed, even though you can deliver them an outstanding key product.
The main element of the purchase is that you musty pay the core charges. That is the purchasing cycle must continue and it leads to dissatisfaction.
The purchase leads to the satisfaction of the core is based on the dissatisfaction then it does not affect the satisfaction. Hence e the option D is correct.Learn more about the part of the purchase.
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As firms build databases that contain customer ______, marketing researchers must be careful not to abuse this collection, which may contain sensitive personal details.
Answer:
The correct answer is information
Explanation:
Database Marketing is a form of direct marketing using databases of customers or potential customers to generate personalized communications in order to promote a product or service for marketing purposes. The communication method can be any addressable medium, as in direct marketing.
The difference between direct and database marketing is mainly due to the attention given to data analysis. Database Marketing emphasizes the use of statistical techniques to develop consumer behavior models, which are then used to select clients for communications. As a result, database marketers are also large users of Database Stores, since they have large amounts of consumer data which increases the chances that a more accurate product can be built.
There are two main types of database marketing: 1) Consumer databases and 2) Business databases. Consumer databases are primarily aimed at companies that sell to consumers, commonly abbreviated as "from business to customer" (B2C) or BtoC. Business databases are much more advanced in terms of the information they provide, this is mainly because business databases do not have the same privacy laws as consumer databases.
A difference between book income and tax income that __________ (increases / decreases) taxable income in the current year but will __________ (reduce / increase) taxable income in a future year is a(n) ________ book-tax difference.
Answer:
Temporary difference
Explanation:
The reason is that the temporary difference is due to allowable and disallowable expenses and returns for some period which in later years equals to the allowable or disallowable incomes and expenses. This is all because of the temporary differences.
On July 1, an investor holds 50,000 shares of a certain stock. The market price is $30 per share. The investor is interested in hedging against movements in the market over the next month and decides to use an index futures contract. The index futures price is currently 1,500 and one contract is for delivery of $50 times the index. The beta of the stock is 1.3. What strategy should the investor follow? Under what circumstances will it be profitable?
Answer:
26 Contracts
Explanation:
Portfolio value= P = 50,000 * 30 = 1,500,000
The formula to calculate the number of contracts is given by:
Number of contracts N = (β∗P) / Futures Value
P is the fair value of the portfolio in the market, β is the beta of the stock which is 1.3 and Future value is can be calculated by following formula:
Futures Value = Fair Value of Assets * Fair value of unit Future / Fair value of unit share
By putting values we have:
Futures Value = (45,000) * $50 per Future / $30 per Share = 75,000
By putting values we have:
Number of contracts N = (1.3∗$1,500,000) / 75,000 = 26 contracts
Catalina and Christian share a work station on the assembly line. Catalina works the morning shift and Christian works the afternoon shift. Catalina is 5’2" tall and Christian is 5’10" tall. The workstation can be lowered to Catalina’s height and then raised to Christian’s height. Catalina and Christian’s jobs have a(n) ______ design.
A. mechanistic
B. organic
C. biological
D. perceptual-motor
Answer:
C. biological
Explanation:
From the following OPTION the best OPTION which explains the scenario in the question is OPTION (C).
Because biological design is a design which is designed naturally that can be adjusted and used efficiently.
Here we can see in the scenario that in the workstation, the heights of both Christian and Catalina is been adjusted and used efficiently. Christian and Catalina’s jobs have a biological design.
Rico's firm manufactures homemade salsa. His product is sold around the country, but he adds extra jalapenos to his product sold in Texas, New Mexico, and Arizona because those customers prefer the extra heat and spice. Rico also markets the product differently based on the region of the country where it is sold. This represents what type of targeting strategy
Answer:
Differentiated Targeting Strategy.
Explanation:
Rico's firm manufactures homemade salsa. His product is sold around the country, but he adds extra jalapenos to his product sold in Texas, New Mexico, and Arizona because those customers prefer the extra heat and spice. Rico also markets the product differently based on the region of the country where it is sold. This represents differentiated targeting strategy.
In differentiated targeting strategy, we target different customers and market segments with different offers and marketing mix to meet that segment's particular needs and expectations. We offer them different products, at different prices and creates unique, tailored and customized promotional campaigns for them. It is suitable for the segments which have distinctive needs and wants.
An infestation of banana spiders makes it extremely difficult to harvest Indian bananas. The U.S. Surgeon General has stated that there are numerous health benefits from eating bananas. As a result, one should expect:________.A) Equilibrium price to fall, but equilibrium quantity to be indeterminate from the information given.
B) Equilibrium price to rise, but equilibrium quantity to be indeterminate from the information given.
C) Equilibrium price to be indeterminate from the information given, but equilibrium quantity to rise.
D) Equilibrium price to be indeterminate from the information given, but equilibrium quantity to fall.
Answer:
B) Equilibrium price to rise, but equilibrium quantity to be indeterminate from the information given.
Explanation:
Since it is very difficult to harvest bananas, that means that the production costs of bananas has increased. When the production costs of any good or service increases, their supply curve shifts to the left. That leftward shift will decrease total quantity supplied and increase the price of the good or service at every quantity demanded level.
We know that the equilibrium price will increase, but we cannot know what will happen to the equilibrium quantity.
George offers to sell his car to Suzy for $10,000 on the coming Sunday, to which Suzy agrees. They write down the details on a paper. On the decided day, Suzy pays the cash to George, but he refuses to sell the car to her saying that his friend Marty has offered to pay $30,000 for the same car. On the basis of which doctrine can Suzy sue George?
a. Quasi-contract
b. Implied contract
c. Partially executed contract
d. Both (a) and (b).
e. Promissory estoppel
Answer:
e. Promissory estoppel
Explanation:
Based on the information provided within the question it can be said that in this scenario Suzy can sue George on the basis of a promissory estoppel. This term refers to a doctrine used in contract law that prevents an individual from refusing to uphold a promise even though there is no actual legal contract binding them to do so. Which George can be held liable for since he offered to sell his car to Suzy.
Answer:
C. Partially executed contract
Explanation:
When Suzy and George made the deal, and wrote it down, it is deemed to have been set in motion. Suzy coming through with payment will be considered as keeping her end of the bargain. However, she will be hard pressed to establish her position having tendered cash which an unsavoury businessman like George can deny ever seeing let alone receipt!
Phil tells Gloria that if she works for him full time, he'll pay her $1,000 a week. As a result and based on Phil's promise, Gloria quits her job at the department store and puts a down payment on a car. When Gloria shows up at Phil's to start work, Phil tells her he's changed his mind about the full time job. What are Gloria's options
Answer:
Gloria can assert promissory estoppel in order to enforce Phil's promise.
Explanation:
Promissory estoppel refers to a legal doctrine that promises are legally enforceable. This doctrine establishes that in order for a promise to be considered legally enforceable, the party making the promise should reasonably realize that the other party will rely on it and that any reasonable person would rely on the other party's promise. This doctrine helps to avoid injustices by enforcing the promises.
GR8 Marketing Company and Brainfreeze Tunes, Inc., sign a document that states GR8 agrees to create a marketing campaign for Brainfreeze, which agrees to pay GR8 for the service. GR8 and Brainfreeze have
Full question:
GR8 Marketing Company and Brainfreeze Tunes, Inc., sign a document that states GR8 agrees to create a marketing campaign for Brainfreeze, which agrees to pay GR8 for the service. GR8 and Brainfreeze have...
a. an executed contract.
b. an express contract.
c. an implied contract.
d. a quasi contract.
Answer:
GR8 and Brainfreeze have express contract
Explanation:
An express contract is a deal whose sessions the participants have explicitly fixed out. This is additionally termed as a special contract. In an express contract, all the details would be explicitly stated. It necessity shows a proposal and complete acceptance and be revealed in an easy-to-understand way.
In this, the expressions are marked explicitly and correctly, and they are based on these terms slightly than the behaviors, activities, and obvious purposes of the parties. Any effort to change or modify the agreement is a counter-offer, not recognition of an express contract.
Under the all-events test, in addition to specifying that all events to establish the liability must have occurred, the test also provides that the business must be able to determine the amount of the liability with reasonable accuracy.1. True2. False
Answer:
TRUE
Explanation:
It is true that under the all-events test, in addition to specifying that all events to establish the liability must have occurred, the test also provides that the business must be able to determine the amount of the liability with reasonable accuracy
Under Sec. 461(h), a three-prongall-events test is met when
(1) all events have occurred that establish the fact of the liability;
(2) the amount of the liability can be determined with reasonable accuracy; and
(3) economic performance has occurred.
Answer:
True
Explanation:
An All-Events test a test under U.S. federal income tax law that states all events fixing an accrual-method, taxpayer's right to receive income, or incur expense must occur before the taxpayer can report an item of income or expense. An all-events test is said to be met when :
(1) All events have occurred that fix the fact of liability; and
(2) The liability can be determined with reasonable accuracy.
DMC3 Inc. will pay no dividend for 2016 or 2017. At the end of 2018, it will pay a dividend of $1.50. Thereafter dividends will grow at 4% per year. The required rate of return is 10%. The intrinsic value of DMC3 shares is:________.A) $33.50. B) $34.53. C) $34.91. D) $35.21.
Answer:
no option is correct, the correct answer is $20.66
Explanation:
we can determine the value of DMC3 stock using an adjusted perpetuity formula:
present value = [dividend / (required rate - growth rate)] / (1 + required rate)²
= [$1.50 / (10% - 4%)] / (1 + 10%)² = ($1.50 / 6%) / 1.1² = $25 / 1.21 = $20.66
Which of the following is considered an advantage/benefit of utilizing an ERP system? a. Enables the company to utilize a single centralized database system, thus eliminating duplicate data entries b. Flexible enough that it allows different companies with different business models to mold the new ERP system to fit the company's business model c. Fairly inexpensive to purchase and implement
Answer:
The correct answer is A
Explanation:
ERP termed as or stands for Enterprise Resource Planning, which is defined as the centralized system, that provides the integration with the enterprise functions be it analytics, planning, sales, finance, HR, customer relations and procurement as well other application functions which are connected.
So, this system consider the benefit of enabling the company to use the single database system, which is centralized and thus remove the duplicate data entries.
Amazon expanded its single-product business by leveraging spare capacity into cloud computing and by offering its Kindle line of tablet computers. This is an example of____________.
A. unrelated diversification.
B. related-linked diversification.
C. taper integration.
D. backward vertical integration.
Answer:
B) related-linked diversification.
Explanation:
A related linked diversification strategy refers to expanding a company's product lines with products or services that are similar to the ones that it currently offers.
In this case, Amazon first sold books and selling a e-book reader follows a similar path. Since Amazon had spare cloud computing capacity, it decided to "lease it" to other businesses and is currently Amazon's star service that generates most of its cash.
A town manager is interested in comparing requests for various town-provided services (such as street maintenance and garbage pickup) with nationally published proportions of requests for the same services. Each request in a random sample of 500 service requests from the town was classified into one of 10 different categories. Which of the following tests could be used to determine whether the proportions of service requests classified into the 10 service categories for the town differ from national proportions?
A. A two-sample t-test for a difference of means
B. A matched-pairs t-test for means
C. A chi-square test of association
D. A chi-square goodness-of-fit test
E. A t-test for a correlation of proportions
Answer:
D.
Explanation:
Based on the scenario being described within the question it can be said that the test that would help determine this would be a Chi-Square goodness of fit test. This is a test that has been designed with the main goal of calculating how the observed value of a phenomena is vastly different from the value that was expected from that phenomena. Which is what needs to be determined in this scenario with the samples.
The test that should be determined in the case when the proportions of service requests classified so it should be option D.
What is A chi-square goodness-of-fit test?It is a test that should been designed having the goal for determining how the observed value of a phenomenon should be majorly distinct from the value that should be expected from the phenomenon that required to be measured the scenario.
So based on this, we can say that the option d is correct.
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In stratified random sampling, the population is first divided up into mutually exclusive and collectively exhaustive groups, called strata. A stratified sample includes randomly selected observations from each stratum, which are proportional to the stratum’s size.True / False.
The administrative activities of controlling, directing, and coordinating police personnel, resources, and activities in the service of preventing crime, apprehending criminals, recovering stolen property, and performing regulatory and helping services.
Answer:
The statement is describing the functions of police management.
Explanation:
Just like managing a firm, managing the police works in a similar way: police directors have to plan, control, direct, and coordinate all aspects related to the police operations, both on a daily basis, and on a long-term basis.
It is very important to have good police management because police is a service that is public and crucial for citizens. The wrong kind of police management can cause safety and public order problems that can be very disruptive for daily life.
At Corpceton, a plastic products manufacturing company, two to three newly hired machine operators are assigned to senior machine operators who train them for a few weeks. After the trainees complete three months of probation in the company, each of them is given a machine to operate on. In the context of training methods, this scenario best illustrates:_______.a) on-the-job training.
b) refresher training.
c) sensitivity training.
d) vestibule training.
Answer:
The correct option is A
Explanation:
on the Job training also known as OJT is a type of training in which the employee is trained at the workplace. Usually an experienced employee acts as the instructor.
Answer:
The answer to the question is D: Vestibule Training
Explanation:
The word Vestibule refers to several things one of which is the lobby next to the outer door of a building. Please see attached picture showing the vestibule of a building in New York City.
Notice that the lobby or vestibule is part of the building but not on the inside. We could say near the building.
Vestibule Training which means Near-the-Job training derives from the above.
It is an approach to personnel training in which new employees, before starting their work duties, spend some time learning in a special section (vestibule), apart from the actual work environment that duplicates as precisely as possible the setting and conditions in which the employees will actually be working once their training is complete.
This should not be confused with On-the-Job training which is training provided in the workplace during regular working hours for the purpose of developing or enhancing the knowledge, skills, and abilities of employees.
During On-the-Job training, the trainees learn under supervision whilst doing the actual job.
Some of advantages of Vestibule training are:
1. It enables the workers to secure training in the best methods to work and to get rid of initial nervousness. During the Second World War II, this method was used to train a large number of workers in a short period of time. It may also be used as a preliminary to on-the job training. Duration ranges from few days to few weeks.
2. It prevents trainees to commit costly mistakes on the actual machines and or actual work environment.
Cheers!
When Mr. Lakely, a recruiter for United Health, calls job applicant Leanne Pufall to schedule a second-round interview, he reaches Leanne’s voice mail, which has an offensive joke message. A. Leanne’s message is professional. B. Leanne’s message is unprofessional.
Answer: Leannes message is unprofessional
Explanation:
An unprofessional behavior shows a lack of respect for yourself and others as well as immaturity, and it proves a disregard for cultural and workplace ethics. Hence, Leannes message is unprofessional for such an offensive joke in a professional environment.
The boss praised his hourly employees for their good work. The boss hopes that the praise encourages the employees to continue to work hard. In this example, the reinforcement is _____.
A) the boss’s praise
B) the employee’s good work
C) the boss
D) an hourly wage
Answer: A)
Explanation:
advocate wants to estimate the percentage of people who favor decreasing tariffs on imported goods. She conducts a nationwide survey of 1350 randomly selected adults 18 years and older. The interviewer asks the respondents, "Do you favor supporting free trade with our friendly neighbors question mark"
Answer: Please refer to the explanation section
Explanation:
The question is not clear with regards to what is required or what the question wants us to do. I will assume the question requires us to provide arguments inf favour of decreasing tariffs on imported goods.
Tariffs on imported goods aim to discourage buyers from buying import goods, when Tariffs decrease it benefits consumers because they have more choice, they can buy locally or from another country which will drive the price of a good in question down.
Free trade will also strengthen Trade relations between countries, the domestic country will also benefit because it would easier for local producers to export their product and gain a market in foreign countries. Local producers will export their product without incurring excessive costs tariffs charged by the foreign country
Grandparents plan to open an account on their grandchild's birthday and contribute each month until she goes to college. How much must they contribute at the beginning of each month in an investment that pays 8%, compounded monthly, if they want the balance to be $160,000 at the end of 18 years?
Answer:
They contribute $ at the beginning of each month
Explanation:
A constant payment for a specified period is called annuity. The future value of the annuity can be calculated using a required rate of return.
Formula for Future value of annuity is
F = P x ( [ 1 + I ]^N - 1 ) / I
I = interest rate = 8% / 12 = 0.67% per month
N = Number of periods = 18 years x 12 = 216 months
F = Future / final value = $160,000
P =Payment amount = ?
$160,000 = P x ( [ 1 + 0.67% ]^216 - 1 ) / 0.67%
$160,000 = P x ( [ 1.0067 ]^216 - 1 ) / 0.0067
$160,000 = P x ( [ 1.0067 ]^216 - 1 ) / 0.0067
$160,000 = P x 482.20
P = $160,000 / 482.2
p = $331.81
Answer:
$332.74
Explanation:
We can use the annuity formula to calculate the monthly deposit. Since this problem requires a lot of compounding periods we must use the memory function of our calculator to get a more exact answer.
future value = payment x [(1 + i)ⁿ - 1] / i
future value = $160,000payment = ?n = 18 years x 12 months = 216 periodsi = 8% / 12 = 0.006666... we must add this number to our calculator's memory$160,000 = payment x [(1 + 0.006666)²¹⁶ - 1] / 0.006666
$160,000 = payment x (1.006666²¹⁶ - 1) / 0.006666
$160,000 = payment x 3.2 / 0.006666
$160,000 = payment x 480.861
payment = $160,000 / 480.861 = $332.736 ≈ $332.74
All competitive advantages have:________1. a limited life. 2. unrestricted sustainability. 3. protections against imitability. 4. the ability to earn above-average returns indefinitely.
Answer:
The answer is the ability to earn above average returns indefinitely
Explanation:
To earn above the average returns are form of returns in excess of what an investor expects to earn from other investments with similar amount of risk. This gives an ability to manufactures to produce at the lowest cost, which is an advantage to organizations.
Answer:
1) a limited life.
Explanation:
Competitive advantages create core competencies, but as time passes, what was one your competitive advantage and your core competency can turn into a core rigidity and make your whole business go down. Consumers demand more and more nowadays, and what is considered a good service today might be considered a poor service tomorrow.
E.g. Kodak had the competitive advantage in the production of photographic film, but as digital cameras became popular (and then cell phone cameras), Kodak didn't adjust its business strategy in time and went broke.
If the market interest rate remains at 5% for the next 29 years, and if Leggio's credit rating remains constant, then the price of its bonds will decrease gradually over time and be exactly $1,000 at maturity. True or false
Answer: True
Explanation:
A bond is a debt tool that provides a periodic stream of interest payments to investors while repaying the principal sum on a specified maturity time.
In the U.S., the face value is usually $1,000 or a multiple of $1,000. Hence as the credit value remains constant over the span of the 29 years, the bond keeps decreasing.
Outsourcing of services is:______. a. decreasing in volume and scope. b. increasing in volume and scope. c. increasing in volume, but decreasing in scope. d. about the same in volume and scope over the last decade. e. decreasing in volume, but increasing in scope.
Answer:
b. increasing in volume and scope
Explanation:
Outsourcing refers to assigning routine day to day tasks of less significance to an outside firm at a contractual price, with dual motive of saving time and focusing upon more important tasks and also to avail specialized services of an outside firm to ensure efficiency.
For example, a company may outsource it's human resource management function to third party consultants rather than conducting recruitment on it's own.
With the growth in businesses and with increased competition, the need to focus upon strategic tasks has increased which calls for growth in outsourcing function owing to which outsourcing of services has increased both in volume and scope.
Answer:
b. increasing in volume and scope.
Explanation:
An outsourcing is an agreement between the one company that hires the other company for a planned existing activity that could be done internally and refers to the phase-out phase. Is it relates an increase the volume of the and scope through the handling of the services and involves the contraction of the business processes like the payroll processing and the claim processing.Cost management has moved from a traditional role of product costing and operational control to a broader strategic focus, which places an emphasis on: Multiple Choice Competitive pricing. Domestic marketing. Short-term thinking. Strategic thinking. Independent judgment.
Answer:
Strategic thinking.
Explanation:
Strategic cost management refers to the process of improving the strategic position of a company by lowering its costs (both production and distribution costs). For example, Amazon's strategic cost management has helped them grow into a huge retailer by offering low prices, but low prices could only be achieved through low distribution costs per unit sold.
Which of the following statements is true of services? a.They are homogeneous in nature. b.They can be inventoried to be consumed later. c.The production and consumption of services can be separated. d.They are intangible in nature.
Answer:
D. They are intangible in nature
Explanation:
Service
Services are defined as valuable actions, deeds or effort performed in order to satisfy a consumer's or customer's needs.
It is an intangible product as opposed to goods which are tangible. Services includes banking, education, cleaning, insurance, land scaping, medical treatment and so on. Services are non physical, meaning they cannot be manufactured, transported or stored/stocked (that is, it cannot be stored for future uses).
Services are intangible in nature, which means that they cannot be seen, touched, or physically possessed like tangible products. Instead, services are experienced and consumed by customers. This intangibility is one of the key characteristics that distinguish services from physical goods.
Therefore option d is correct.
a. Services are not necessarily homogeneous. In fact, services can vary widely in terms of quality, features, and customer experience. For example, the quality of a restaurant meal or the level of customer service provided by two different companies can vary significantly.
b. Services are not typically inventoried to be consumed later. Unlike physical products that can be produced and stored in inventory, services are usually provided in real-time to meet the immediate needs of customers. For example, you can't store a haircut or a doctor's appointment for future use.
c. The production and consumption of services are often inseparable. In many cases, services are created and consumed simultaneously. For example, when you receive medical treatment from a doctor, the service is provided in real-time as you receive the treatment.
In summary, services are characterized by their intangibility, meaning they cannot be touched or possessed like physical products. This intangibility sets them apart from goods, and it also influences how they are produced and consumed, often in real-time and without the possibility of inventorying for future use. Services can vary widely in terms of quality and features, making them non-homogeneous.
Therefore option d is correct.
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