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Characteristics of Services

Description: This quiz will test your knowledge of the characteristics of services.
Number of Questions: 15
Created by:
Tags: services characteristics of services economics
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Which of the following is NOT a characteristic of services?

  1. Intangibility

  2. Perishability

  3. Heterogeneity

  4. Storability

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Correct Option: D
Explanation:

Services cannot be stored, unlike goods.

What is the term for the inability to touch or hold a service?

  1. Intangibility

  2. Perishability

  3. Heterogeneity

  4. Inseparability

Show answer
Correct Option: A
Explanation:

Intangibility is the inability to touch or hold a service.

Which of the following is an example of a perishable service?

  1. A haircut

  2. A car wash

  3. A medical checkup

  4. A software update

Show answer
Correct Option: A
Explanation:

A haircut is a perishable service because it cannot be stored.

What is the term for the variability of services?

  1. Intangibility

  2. Perishability

  3. Heterogeneity

  4. Inseparability

Show answer
Correct Option: C
Explanation:

Heterogeneity is the variability of services.

Which of the following is an example of a heterogeneous service?

  1. A haircut

  2. A car wash

  3. A medical checkup

  4. A software update

Show answer
Correct Option: A
Explanation:

A haircut is a heterogeneous service because it can vary in quality depending on the barber.

What is the term for the simultaneous production and consumption of a service?

  1. Intangibility

  2. Perishability

  3. Heterogeneity

  4. Inseparability

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Correct Option: D
Explanation:

Inseparability is the simultaneous production and consumption of a service.

Which of the following is an example of an inseparable service?

  1. A haircut

  2. A car wash

  3. A medical checkup

  4. A software update

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Correct Option: A
Explanation:

A haircut is an inseparable service because it cannot be produced without the customer being present.

What is the term for the difficulty in evaluating the quality of a service before it is purchased?

  1. Intangibility

  2. Perishability

  3. Heterogeneity

  4. Information asymmetry

Show answer
Correct Option: D
Explanation:

Information asymmetry is the difficulty in evaluating the quality of a service before it is purchased.

Which of the following is an example of information asymmetry in services?

  1. A customer not knowing the quality of a haircut before they get it

  2. A customer not knowing the quality of a car wash before they get it

  3. A customer not knowing the quality of a medical checkup before they get it

  4. A customer not knowing the quality of a software update before they install it

Show answer
Correct Option: A
Explanation:

A customer not knowing the quality of a haircut before they get it is an example of information asymmetry in services.

What is the term for the difficulty in comparing the prices of different services?

  1. Intangibility

  2. Perishability

  3. Heterogeneity

  4. Price opacity

Show answer
Correct Option: D
Explanation:

Price opacity is the difficulty in comparing the prices of different services.

Which of the following is an example of price opacity in services?

  1. A customer not knowing the price of a haircut before they get it

  2. A customer not knowing the price of a car wash before they get it

  3. A customer not knowing the price of a medical checkup before they get it

  4. A customer not knowing the price of a software update before they install it

Show answer
Correct Option: A
Explanation:

A customer not knowing the price of a haircut before they get it is an example of price opacity in services.

What is the term for the tendency of services to be consumed by people who are close to the place where they are produced?

  1. Intangibility

  2. Perishability

  3. Heterogeneity

  4. Locality

Show answer
Correct Option: D
Explanation:

Locality is the tendency of services to be consumed by people who are close to the place where they are produced.

Which of the following is an example of locality in services?

  1. People going to a local barber shop for a haircut

  2. People going to a local car wash to get their car washed

  3. People going to a local doctor for a medical checkup

  4. People downloading a software update from the internet

Show answer
Correct Option: A
Explanation:

People going to a local barber shop for a haircut is an example of locality in services.

What is the term for the tendency of services to be consumed by people who are similar to the people who produce them?

  1. Intangibility

  2. Perishability

  3. Heterogeneity

  4. Homophily

Show answer
Correct Option: D
Explanation:

Homophily is the tendency of services to be consumed by people who are similar to the people who produce them.

Which of the following is an example of homophily in services?

  1. People going to a barber shop that caters to their ethnic group

  2. People going to a car wash that caters to their type of car

  3. People going to a doctor who speaks their language

  4. People downloading a software update that is designed for their operating system

Show answer
Correct Option: A
Explanation:

People going to a barber shop that caters to their ethnic group is an example of homophily in services.

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