Services refer to
a. ideas that consist of a bundle of tangible and intangible attributes that satisfies consumersâ needs and is received in exchange for money or something else of value.
b. intangible activities or benefits that an organization provides to satisfy consumersâ needs in exchange for money or something else of value.
c. philanthropic activities performed in without expectations of monetary remuneration.
d. any intangible activity that provides a benefit to a consumer that he or she could not have obtained or performed on his or her own.
e. any tangible activity that provides a benefit to a consumer that he or she could not have obtained or performed on his or her own.

The correct answer is option B.

Explanation:

Services can be defined as the intangible activities or benefits provided by an organization that provides a certain level of satisfaction to the consumers. In return, the consumers pay some price in the form of money or something else of value.

Services are intangible products. They cannot be produced in advance for future use and stored in an inventory. They are produced and consumed at the same time.

whole quiz

1. the sum of all activities involved in getting high-quality products into the marketplace

2.operations

3. the principle of looking at the supply chain as a whole in order to improve the overall flow through the system.

4. produced; performed

5. activities producing tangible products, such as radios, newspapers, buses, and textbooks.

6. activities producing intangible and tangible products, such as entertainment, transportation, and education.

7.   customer focus

8. analyzing a competitor's products to identify desirable improvements

9. the systematic direction and control of the processes that transform resources into finished projects that create value for and provide benefits to consumers.

10. operation management.

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