What is the main difference between a product and a service?
Answer and explanation
Correct answer: A product is an item and a service is an activity
A product is usually a tangible item that can be owned, stored, or physically examined, such as a book or chair. A service is an activity or benefit performed for a customer, such as teaching or transport, and is generally intangible. Products can certainly be sold, and services cannot always be touched. Therefore, A states the main distinction.
Frequently asked questions
What is the correct answer to this question?
A product is an item and a service is an activity
Why is this the correct answer?
A product is usually a tangible item that can be owned, stored, or physically examined, such as a book or chair. A service is an activity or benefit performed for a customer, such as teaching or transport, and is generally intangible. Products can certainly be sold, and services cannot always be touched. Therefore, A states the main distinction.
Which subject and chapter does this question cover?
This is a Class 11 Business Studies question. Chapter: Business Services. Topic: Meaning, nature and types of business services.
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