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- Goods producing business - DUNKIN DONUTS produces coffee and donuts.
There is something tangible (that you can see, feel, touch, eat, or walk out of the store with it in your possession).
Service producing - Certified Public Accountants produce a service by giving advice, and sometimes doing a person's taxes.
Then there are combination businesses - for example
A service part of a car dealership - they provide cars - so that's when they are goods producing.
They provide service - when they inspect and service your car. They can suggest oil changes, or filter changes, or adjust the brakes, or the engine.
What else can I help you with?
What is difference between goods producing industries and service producing industries?
Goods are typically tangible items, For example, produce, lumber, TVs, other home appliances, department stores etc. Services might include, house cleaning, landscaping, insurance companies, etc. In other words they are providing a service for a fee.
How can one determine the economic surplus in a market?
To determine the economic surplus in a market, calculate the difference between the total value that consumers place on a good or service and the total cost of producing it. This surplus represents the benefit gained by both consumers and producers in the market.
Discuss difference between a good and a service?
Buy a new pair of shoes and you are buying a good. Have your shoes repaired and you are buying a service.
What is the relationship between producer surplus and a monopoly graph?
In a monopoly graph, producer surplus is the difference between the price the producer receives for a good or service and the cost of producing it. In a monopoly, the producer has more control over pricing and can charge higher prices, leading to a larger producer surplus compared to a competitive market.
What does it mean to say US has a service economy?
Economies have several types of businesses, such as agricultural, manufacturing and service. Agricultural and manufacturing businesses are self-explanatory. Service business are ones that provided services like telephone, sales, medical and the like to the economy. A country's economy is called a service economy if its businesses are predominantly service oriented as opposed to agricultural or manufacturing oriented. The US has more businesses that provide services to the public than farming or manufacturing businesses, therefore it is a service economy.
What is the difference between trading business and service business?
Trading businesses and service businesses
What is the difference between service businesses and ohter kinds of businesses?
Service businesses such as plumbers, maids, limo drivers are paid for providing a service rather than being paid for manufacturing something or for selling items that are concrete and tangible.
What is the difference between customer delight and customer service?
•difference between service and delight
A joining of two or more businesses that are involved in different stages of producing the same good or service is called a?
Joining two or more businesses that are involved in different stages of producing the same good or services is a vertical merger.
What is difference between desired service and adequate service?
the difference between the two is the zone of tolerance
What is the difference between service provider and network provider?
what is the difference between a file server and a internet service provider
What's the difference between civil service and public corporation?
Difference between Public Corporation and Civil Service
What is joining of two or more businesses that are involved in different stages or producing that same good or service is called?
vertical merger
What is the difference between serve and service?
serve and service
What is the difference between a self service business and a self selection business?
What is the difference between a self service and a self selection
What is the difference between customer service standard's policies and procedures?
Difference between Customer Service Standards and Policies and Procedures
