Elaborate ways in which physical goods are different from pure-01185
This subjective question is related to the book/course
vu edu405 Classroom Assessment.
It can also be found in
vu edu405 Mid Term Solved Past Paper No. 1.
Question 1: Elaborate ways in which physical goods are different from pure services; also provide suitable examples that illustrate these differences.
Answer:
Goods are tangible while services are intangible for goods ownership is transferable from seller to buyer while in services there is no ownership involved Goods are homogeneous while services are heterogeneous.
Goods Can be kept in stock while services Cannot be
For Goods Production and distribution are separated from consumption Production, but foe services distribution and consumption are simultaneous processes
