The primary reason that a Fourth sector of the economy was created is to move forward societal benefit and for profits, they make a considerable part of their income from business activities. The fourth sectors growth will bring expansion in market and new customers, business and investment opportunities
Answer:
The seven differences between goods and services are:
- intangibility: goods are tangible products, e.g. you can touch them and hold them, while services are intangible, you can use them (e.g. you fly on a plane) and even measure how much they satisfy your needs, but you cannot touch flying, it is an action.
- ownership: you can buy a good, e.g. if you are rich enough you can buy an airplane, but when you purchase a plane ticket you are entitled to using a certain service, you are assigned a seat and you fly inside the airplane, but you do not own anything besides your personal belongings.
- involvement of consumers: consumers are not an active part in the production process of a good, while consumers are an essential part in the process of producing a service, e.g. you buy a ticket and you fly in the plane, no one else can fly for you.
- quality: mass produced goods tend to have a similar quality while the quality of services can vary a lot, e.g. your plane might be late, or you can get sick while flying, or you might enjoy your flight.
- customer evaluation: when you purchase a good, you can easily decide if the good satisfies your need completely or not, while a flight can be on time (good service) but there might have been a lot of turbulence (bad service).
- inventories are absent: goods can be stocked, services cannot. There are usually empty seats during a flight, but a seat not taken today cannot be added to the total number of seats available tomorrow.
- importance of time: if you purchase a good, it doesn't matter if you decide to use that good immediately or not, while a service is produced and consumed at the same time, e.g. the airline company is providing the flight service during the time that you are actually flying.
Answer:
To be totally honest... I cant tell you. All I know so far is that you are born to die
Explanation:
Answer: Product departmentalization
Explanation: In simple words, product departmentalization refers to a process in which an organisation puts all the activities related to a project under a single manager. All the activities relating to that product will be performed in that separate department.
In the given case. the organisation is dividing all their products in separate departments. Hence we can conclude that they most likely follows product departmentalization.
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