Quiz on Products and Services

What is the primary difference between a product and a service?

• Products are intangible, while services are tangible.

• Products are tangible, while services are intangible.

• Products cannot be stored, while services can be stored.

• Products are consumed instantly, while services take time to deliver.

Which of the following is an example of a service-based business?

• A clothing store

• A software company

• A hair salon

• A bakery

What is the typical unit of sale for a consulting service?

• Per item

• Per hour

• Per subscription

• Per package

True or False: A business that sells both products and services is considered both product-based and service-based.

• True

• False

True or False: A product can be a unit of sale for a service-based business.

• True

• False

Something that a business does for a customer in exchange for money is called a _______.

• product

• service

• reward

• risk

Product involves either the product or service the business is selling to satisfy customer needs and wants

• True

• False