Which of the following is a service?
A) anything that can be used indefinitely
B) anything for which people pay less money than they pay for a good
C) an intangible activity that satisfies human wants
D) any output produced by the service sector industry, such as fast food
E) something that is more desirable than a good

Question

Quizplus · Accepted Answer

A service is an intangible activity that satisfies human wants, such as getting a haircut or hiring a plumber. It is not something that can be used indefinitely, nor is it necessarily cheaper than a good, as some services can be quite expensive. It is also not necessarily more desirable than a good, as preferences can vary. Finally, not all outputs of the service sector industry are services, as some can be goods (such as a fast food sandwich).

Which of the Following Is a Service