What is a service, according to economics and marketing?
Q: What is a service, according to economics and marketing?
A: A service is an economic activity offered as a product.
Q: Is a service a material good?
A: No, a service is a non-material good.
Q: Can a service produce a material good?
A: Yes, depending on the service, a material good may be produced.
Q: Give an example of a service that produces a material good.
A: A construction service may produce a material good.
Q: Give an example of a service that does not produce a material good.
A: A lawn mowing service may not produce a material good.
Q: Does the person or company buying a service obtain exclusive ownership of the service?
A: No, in most cases, they do not obtain exclusive ownership of the service.
Q: Can the person or company buying the service take ownership of the material good produced?
A: Yes, if a material good is produced, the person or company buying the service may take ownership of it.
