Understanding Goods and Services

Which of the following is an example of a service rather than a good?

• A smartphone

• A haircut

• A book

• A pair of shoes

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DOK Level 2: Skill/Concept

Which of the following best describes a good?

• An activity performed for someone else

• A tangible item that can be bought or sold

• A promise to perform a task

• A skill or expertise offered to others

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DOK Level 2: Skill/Concept

Identify the service from the following list:

• A laptop

• A concert ticket

• A car wash

• A loaf of bread

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DOK Level 2: Skill/Concept

Which of the following is a characteristic of a service?

• It can be stored for later use

• It is intangible

• It is a physical object

• It can be returned if defective

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DOK Level 2: Skill/Concept

Which of the following is an example of a good?

• Legal advice

• A refrigerator

• A music lesson

• A taxi ride

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DOK Level 2: Skill/Concept

What is the primary difference between goods and services?

• Goods are intangible, services are tangible

• Goods are tangible, services are intangible

• Goods are always more expensive than services

• Services can be stored, goods cannot

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DOK Level 2: Skill/Concept

Which of the following is a service industry?

• Automobile manufacturing

• Software development

• Agriculture

• Retail clothing

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DOK Level 2: Skill/Concept

Which of the following statements is true about goods?

• They are always consumed at the point of purchase

• They can be physically touched and owned

• They are always more expensive than services

• They cannot be resold

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DOK Level 2: Skill/Concept

Which of the following is an example of a service that enhances a good?

• A warranty on a television

• A new pair of shoes

• A bottle of water

• A book

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DOK Level 2: Skill/Concept

Which of the following is a feature of services that distinguishes them from goods?

• They can be mass-produced

• They are perishable and cannot be stored

• They are always cheaper than goods

• They are always produced in factories

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DOK Level 2: Skill/Concept