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Explain how the production of services differs from the production of manufacturing goods give two example?

In the game of economics, which of the following players use goods and services?


Which of the following is an example of how the government regulates business in the mixed economy of the US?

The Food and Drug Administration must approve a new drug before it can be sold to the public.


What is an example of the kinds of choices that a business would have to make because of scarcity?

Scarcity and choice is the basic economic problem. New wants and needs lead to constant scarcity of certain products or services, and this leads consumers and businesses alike to have to make choices. An example is the desire for two different services in a business when resources are limited (say, renovate or reupholster). The choice must be made as to which to do to make the most of available resources.


What are primary secondary and tertiary activities?

Primary sector produces or extracts raw materials from the land or sea. groups in this sector are Agriculture and Farming, forestry and logging, fishing and mining and quarrying. Secondary sector manufactures, processes or constructs goods. Tertiary sector provides services to the customer.


What is an example of capital goods and how are they essential for businesses to produce goods and services efficiently?

An example of capital goods is machinery used in a factory. These goods are essential for businesses to produce goods and services efficiently because they help automate processes, increase productivity, and improve the quality of products. This ultimately leads to cost savings and higher profits for the business.

Related Questions

What of the following is an example of a business that provides only service?

An example of a business that provides only service is a hair salon. Hair salons offer services such as haircuts, styling, and coloring without selling physical products. Their primary focus is on delivering personal care and grooming services to clients.


What is a business give an example?

Business can be defined as an organization that provides goods and services to others who want or need them. Walmart is a great example.


Which of the following is an example of a business that provides only goods?

self serve gas station


What might one find on the IBM UK website?

One might find information about IMB as a company in the "About IMB" tab, one may also find information about the services IMB UK provides, for example, business services, training and IT services.


What services does Encompass Insurance offer?

Encompass Insurance provides its clients with a wide variety of services. For example, individuals are capable of finding home, auto, motorcycle, boat, and business insurance all through this one company.


What kind of services does Proxim provide?

Proxim provides many services that ranges from phone service and cell service. They are one of the smaller phone services that provides just as much as the other services, for example AT&T.


Which companies provide express post services in Canada?

There are many companies that provide express post services in Canada. For example, the UPS provides worldwide service for postal services. In addition, FedEx provides great services.


What is a lifestyle business?

A lifestyle business is a business that sells services to help improve individual lifestyles. An example of a lifestyle business is a gym.


Which of these is not an example of services provided by government to business firms?

workers for their factories


Which is not an example of services provided by government to business firms?

workers for a factory


Which companies offer business technology services?

Many companies offer business technology services, such as BT. Alternatively, other electronic and technological companies offer these services, such as Deloitte, for example.


What type of services does EDI van services provide?

EDI VAN services refers to 'value added network' services which transforms data between formats (such as EDI). This may be a business to business service, for example.