Question

One of the primary differences between tangible goods and services involves a consumer's ability to make pre-purchase evaluations. For example, consumers can easily evaluate shoes, jewelry, and skis before making a purchase. On the other hand, consumers can evaluate services such as restaurants, ski instructors, and tanning salons only during or after their purchase. Indeed, tangible products have consistent properties, whereas services have inconsistent properties.

Name: one of the primary differences between tangible goods and services involves a consumers ability to make prepurchase evaluations for example consumers can easily evaluate shoes jewelry and sk 76328
Uploaded: 2022-07-08T02:48:20-08:00
Duration: 1 min 58 s
Channel: Sanchit Jain
Description: one of the primary differences between tangible goods and services involves a consumers ability to make prepurchase evaluations for example consumers can easily evaluate shoes jewelry and sk 76328

          One of the primary differences between tangible goods and services involves a consumer's ability to make pre-purchase evaluations. For example, consumers can easily evaluate shoes, jewelry, and skis before making a purchase. On the other hand, consumers can evaluate services such as restaurants, ski instructors, and tanning salons only during or after their purchase. Indeed, tangible products have consistent properties, whereas services have inconsistent properties.

Added by Nicol-S H.

Principles of Economics

Gregory Mankiw 8th Edition

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Solved by Expert Sanchit Jain

07/08/2022

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Step 1: The primary difference between tangible goods and services is that consumers can easily evaluate tangible goods before making a purchase, while they can only evaluate services during or after their purchase. Show more…

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One of the primary differences between tangible goods and services involves a consumer's ability to make pre-purchase evaluations. For example, consumers can easily evaluate shoes, jewelry, and skis before making a purchase. On the other hand, consumers can evaluate services such as restaurants, ski instructors, and tanning salons only during or after their purchase. Indeed, tangible products have consistent properties, whereas services have inconsistent properties.