Question

A ______ is an intangible product involving a deed, a performance or an effort that cannot be stored or physically possessed.

Options

• Production

• Consumption

• Service

• All of these

Answer 1

A Service is an intangible product involving a deed, a performance or an effort that cannot be stored or physically possessed.

Explanation:

A service is an intangible product that involves providing a performance or effort, such as healthcare, education, or maintenance work. Unlike physical goods, services cannot be stored, touched, or owned, and they are consumed at the point of delivery.