Question

multiple choice question
which of the statements below are true of services as opposed to goods?

• only services are a type of economic product.
• only services are unable to be transferred to others.
• only services are part of a countrys wealth.
• only services are intangible because they represent work done for someone.

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Explanation:

• Analyze each option:
• "Only services are a type of economic product" is wrong because goods are also economic products.
• "Only services are unable to be transferred to others" is wrong as some goods (e.g., personal skills - though goods here can be physical, but services' non - transferability isn't exclusive as some goods have ownership transfer but services are about performance, but the statement's "only" is incorrect as there are non - transferable goods in a sense too, but more importantly, services' intangibility and performance - based nature makes them non - transferable in the way goods are, but the "only" is wrong. However, the key correct option is "Only services are intangible because they represent work done for someone" as goods are tangible (mostly) and services are intangible as they are actions/performances. Wait, no, let's re - evaluate:
• "Only services are intangible because they represent work done for someone": Services are intangible (e.g., a haircut, consulting) as they are actions, while goods are tangible (e.g., a book, a car). So this statement is true. The other options:
• "Only services are a type of economic product": Both goods and services are economic products.
• "Only services are unable to be transferred to others": Some goods can't be transferred (e.g., a custom - made tattoo on a person, but that's a service? No, a tattoo is a service. Wait, maybe the idea is that services can't be transferred in ownership like goods. But the statement "only services" is not accurate, but among the options, the "intangible" one is correct. Wait, the original options: Let's re - check. The correct option is "Only services are intangible because they represent work done for someone" because goods are tangible (physical objects) and services are intangible (they are activities or performances).
• "Only services are part of a country’s wealth": Both goods and services contribute to a country's wealth (e.g., a country's manufacturing goods and service - sector like tourism).
• "Only services are a type of economic product": Both goods and services are economic products (they are produced and consumed, have value).
• "Only services are unable to be transferred to others": The idea is that services can't be transferred in the way goods are (you can't transfer a haircut to someone else, but you can transfer a book). But the statement "only services" is not entirely accurate, but among the given options, the "intangible" one is the correct description of services vs goods.

Answer:

D. Only services are intangible because they represent work done for someone (assuming the options are labeled as A, B, C, D with D being this option; if the original labels were different, adjust accordingly. From the image, the last option is "Only services are intangible because they represent work done for someone", so the correct option is the one with this text, e.g., if the options are ordered as the last one, then the answer is the option: "Only services are intangible because they represent work done for someone".