a consumer can see and touch a product such as a new laptop computer, but he cannot touch or feel the service he hires to fix a

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1 year ago

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a consumer can see and touch a product such as a new laptop computer, but he cannot touch or feel the service he hires to fix a

computer. this example illustrates the fact that services are blank . multiple choice question. inferior intangible perishable inconsistent

Business

1 answer:

Marina CMI [18] · Answer 1 · 2024-03-26T11:20:12+03:00

Since we can see and touch a product but he cannot touch or feel the service h, this example illustrates the fact that services are <u>intangible</u>.

<h3>What is known as service?</h3>

In economics, a service means any intangible act or use for which a consumer, firm or government is willing to pay. An examples include works done by barbers, doctors, lawyers, mechanics, banks, insurance companies etc.

Furthermore, some of the examples of services as an Intangible products are accounting, banking, cleaning, consultancy, education, insurance, expertise, medical treatment, transportation etc.