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15 January, 08:43

Which of the following statements is true about goods and services?

a. They can be touched - - they are both tangible.

b. Together, they represent everything that can be bought or sold.

c. They are never scarce.

d. They have no economic value.

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Answers (1)
  1. 15 January, 08:57
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    The correct statement is the following:

    b. Together, they represent everything that can be bought or sold.

    They can't both be touched: services can't, while goods can.

    Also they have a big economic value: they are everything that has a value.

    They can be scarce though, and many goods and services are actually scarce in many places.
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