Multiple Choice
In the context of business calculus, which term best describes a rule that assigns to each element in a set exactly one element in another set?
0. Functions
Introduction to Functions
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Which of the following best describes the primary difference between a service firm and a manufacturer?
A
A service firm only operates online, while a manufacturer only operates in physical locations.
B
A service firm requires more raw materials than a manufacturer.
C
A service firm provides intangible products, while a manufacturer produces tangible goods.
D
A service firm is always larger in size than a manufacturer.
Verified step by step guidance1
This question is conceptual and not directly related to Business Calculus. However, I can clarify the key difference between a service firm and a manufacturer.
A service firm provides intangible products, such as consulting, education, or financial services. These are non-physical outputs that cannot be touched or stored.
A manufacturer, on the other hand, produces tangible goods, such as cars, furniture, or electronics. These are physical products that can be touched, stored, and transported.
The other options provided in the question are incorrect because they do not accurately describe the primary difference between a service firm and a manufacturer.
The correct answer is: 'A service firm provides intangible products, while a manufacturer produces tangible goods.' This distinction is fundamental in understanding the nature of businesses in different industries.
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