Question

Which of the following is a similarity between goods and services? Question 21 options: A) mass production B) Both have quality standards. C) Both can usually be kept in inventory. D) automation E) consistency

Answer 1

Answer:

The correct answer is option B.

Explanation:

Goods are physical and tangible products that are used to satisfy human wants and needs. While services are non-tangible products that are used for the same purpose.

The difference between the two is that is in terms of tangibility. Also, goods can be produced in advance and stored in inventories, unlike services. Services are immediately consumed as produced.  

The similarity between the two is that both have quality standards. However, the quality standards of services depend on the expectations before the consumption.