About Goods and the difference between Tangible and Intangible products

Question

Want to see more full solutions like this?

Answer 1

Question

Chapter 8, Problem 1QA

Summary Introduction

To define: About Goods and the difference between Tangible and Intangible products

Expert Solution & Answer

Answer to Problem 1QA

Goods: Any kind of physical form of material that satisfies human needs and demands which provides utility to them. For example: A soap, a hairdryer etc.

Tangible Products: Goods are tangible in nature because they can be touched, seen while consuming. For example: A vehicle, a smart phone etc.

Intangible Products: Services are mainly intangible because they can’t be touched, they can only be felt. For example: An insurance police, a computer software etc.

Explanation of Solution

Goods can be of many types.

Free goods: Goods which are in abundance and can be used by anybody are called free goods. For example: Air, sunlight etc.

Consumer goods: A final product which is produced to be consumed by a consumer to satisfy his needs and wants. For example: Biscuits, shampoo etc.

Intermediate goods: Parts and components which are used in making the final good are called intermediate goods. For example: Nuts, bolts, pipes etc.

Differences between Tangible and Intangible products are as

Tangible Products	Intangible Products
⋅They have a physical form and can be touched. ⋅The producer has more control over quality. ⋅Inventory can be stored for some future sales. ⋅For example: Furniture, vehicles, computers etc.	⋅They do not have a physical form and can’t be touched. ⋅The producer has less control over quality. ⋅No inventory to store and experience cannot be stored. ⋅For example: Patents, Brand value, Insurance policies etc.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Students have asked these similar questions

Search entries or author... All < ↓ Sort View Split Screen Expand Threads You must post before seeing replies. Edit history will be available to instructors. No Due Date 10 points possibl 25 Replies, 25 Unread Week 9 Discussion: Intercultural Communication Write a 200 - 300 word discussion post based on the prompt below. Reply to at least one other student in 50 - 100 words. Describe a time in which cultural norms and expectations and prevented clear communication. What have you learned from the experience? How can we be more accepting and inclusive of other cultures? Reply Previous Q Search hp Nex 8:32 1/7/2

Answer? ? Financial accounting

You will be presented with a situation showing the details of how a company is currently working, a manufacturing plant with various stand-alone computers and printers, and you will research and determine the best configuration to help the manufacturing plant network their computers and include connections to the Internet for all computers. You will need to explain and support the decisions and be able to explain how the changes will benefit the manufacturing plant, including describing how the changes will be managed and implemented.

Answer 2

Question

Chapter 8, Problem 1QA

Summary Introduction

To define: About Goods and the difference between Tangible and Intangible products

Expert Solution & Answer

Answer to Problem 1QA

Goods: Any kind of physical form of material that satisfies human needs and demands which provides utility to them. For example: A soap, a hairdryer etc.

Tangible Products: Goods are tangible in nature because they can be touched, seen while consuming. For example: A vehicle, a smart phone etc.

Intangible Products: Services are mainly intangible because they can’t be touched, they can only be felt. For example: An insurance police, a computer software etc.

Explanation of Solution

Goods can be of many types.

Free goods: Goods which are in abundance and can be used by anybody are called free goods. For example: Air, sunlight etc.

Consumer goods: A final product which is produced to be consumed by a consumer to satisfy his needs and wants. For example: Biscuits, shampoo etc.

Intermediate goods: Parts and components which are used in making the final good are called intermediate goods. For example: Nuts, bolts, pipes etc.

Differences between Tangible and Intangible products are as

Tangible Products	Intangible Products
⋅They have a physical form and can be touched. ⋅The producer has more control over quality. ⋅Inventory can be stored for some future sales. ⋅For example: Furniture, vehicles, computers etc.	⋅They do not have a physical form and can’t be touched. ⋅The producer has less control over quality. ⋅No inventory to store and experience cannot be stored. ⋅For example: Patents, Brand value, Insurance policies etc.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 3

Question

Chapter 8, Problem 1QA

Summary Introduction

To define: About Goods and the difference between Tangible and Intangible products

Expert Solution & Answer

Answer to Problem 1QA

Goods: Any kind of physical form of material that satisfies human needs and demands which provides utility to them. For example: A soap, a hairdryer etc.

Tangible Products: Goods are tangible in nature because they can be touched, seen while consuming. For example: A vehicle, a smart phone etc.

Intangible Products: Services are mainly intangible because they can’t be touched, they can only be felt. For example: An insurance police, a computer software etc.

Explanation of Solution

Goods can be of many types.

Free goods: Goods which are in abundance and can be used by anybody are called free goods. For example: Air, sunlight etc.

Consumer goods: A final product which is produced to be consumed by a consumer to satisfy his needs and wants. For example: Biscuits, shampoo etc.

Intermediate goods: Parts and components which are used in making the final good are called intermediate goods. For example: Nuts, bolts, pipes etc.

Differences between Tangible and Intangible products are as

Tangible Products	Intangible Products
⋅They have a physical form and can be touched. ⋅The producer has more control over quality. ⋅Inventory can be stored for some future sales. ⋅For example: Furniture, vehicles, computers etc.	⋅They do not have a physical form and can’t be touched. ⋅The producer has less control over quality. ⋅No inventory to store and experience cannot be stored. ⋅For example: Patents, Brand value, Insurance policies etc.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 4

Question

Chapter 8, Problem 1QA

Summary Introduction

To define: About Goods and the difference between Tangible and Intangible products

Expert Solution & Answer

Answer to Problem 1QA

Goods: Any kind of physical form of material that satisfies human needs and demands which provides utility to them. For example: A soap, a hairdryer etc.

Tangible Products: Goods are tangible in nature because they can be touched, seen while consuming. For example: A vehicle, a smart phone etc.

Intangible Products: Services are mainly intangible because they can’t be touched, they can only be felt. For example: An insurance police, a computer software etc.

Explanation of Solution

Goods can be of many types.

Free goods: Goods which are in abundance and can be used by anybody are called free goods. For example: Air, sunlight etc.

Consumer goods: A final product which is produced to be consumed by a consumer to satisfy his needs and wants. For example: Biscuits, shampoo etc.

Intermediate goods: Parts and components which are used in making the final good are called intermediate goods. For example: Nuts, bolts, pipes etc.

Differences between Tangible and Intangible products are as

Tangible Products	Intangible Products
⋅They have a physical form and can be touched. ⋅The producer has more control over quality. ⋅Inventory can be stored for some future sales. ⋅For example: Furniture, vehicles, computers etc.	⋅They do not have a physical form and can’t be touched. ⋅The producer has less control over quality. ⋅No inventory to store and experience cannot be stored. ⋅For example: Patents, Brand value, Insurance policies etc.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 5

Chapter 8, Problem 1QA

Summary Introduction

To define: About Goods and the difference between Tangible and Intangible products

Expert Solution & Answer

Answer to Problem 1QA

Goods: Any kind of physical form of material that satisfies human needs and demands which provides utility to them. For example: A soap, a hairdryer etc.

Tangible Products: Goods are tangible in nature because they can be touched, seen while consuming. For example: A vehicle, a smart phone etc.

Intangible Products: Services are mainly intangible because they can’t be touched, they can only be felt. For example: An insurance police, a computer software etc.

Explanation of Solution

Goods can be of many types.

Free goods: Goods which are in abundance and can be used by anybody are called free goods. For example: Air, sunlight etc.

Consumer goods: A final product which is produced to be consumed by a consumer to satisfy his needs and wants. For example: Biscuits, shampoo etc.

Intermediate goods: Parts and components which are used in making the final good are called intermediate goods. For example: Nuts, bolts, pipes etc.

Differences between Tangible and Intangible products are as

Tangible Products	Intangible Products
⋅They have a physical form and can be touched. ⋅The producer has more control over quality. ⋅Inventory can be stored for some future sales. ⋅For example: Furniture, vehicles, computers etc.	⋅They do not have a physical form and can’t be touched. ⋅The producer has less control over quality. ⋅No inventory to store and experience cannot be stored. ⋅For example: Patents, Brand value, Insurance policies etc.

Answer 6

Chapter 8, Problem 1QA

Summary Introduction

To define: About Goods and the difference between Tangible and Intangible products

Expert Solution & Answer

Answer to Problem 1QA

Goods: Any kind of physical form of material that satisfies human needs and demands which provides utility to them. For example: A soap, a hairdryer etc.

Tangible Products: Goods are tangible in nature because they can be touched, seen while consuming. For example: A vehicle, a smart phone etc.

Intangible Products: Services are mainly intangible because they can’t be touched, they can only be felt. For example: An insurance police, a computer software etc.

Explanation of Solution

Goods can be of many types.

Free goods: Goods which are in abundance and can be used by anybody are called free goods. For example: Air, sunlight etc.

Consumer goods: A final product which is produced to be consumed by a consumer to satisfy his needs and wants. For example: Biscuits, shampoo etc.

Intermediate goods: Parts and components which are used in making the final good are called intermediate goods. For example: Nuts, bolts, pipes etc.

Differences between Tangible and Intangible products are as

Tangible Products	Intangible Products
⋅They have a physical form and can be touched. ⋅The producer has more control over quality. ⋅Inventory can be stored for some future sales. ⋅For example: Furniture, vehicles, computers etc.	⋅They do not have a physical form and can’t be touched. ⋅The producer has less control over quality. ⋅No inventory to store and experience cannot be stored. ⋅For example: Patents, Brand value, Insurance policies etc.

Answer 7

Chapter 8, Problem 1QA

Summary Introduction

To define: About Goods and the difference between Tangible and Intangible products

Answer 8

Expert Solution & Answer

Answer to Problem 1QA

Goods: Any kind of physical form of material that satisfies human needs and demands which provides utility to them. For example: A soap, a hairdryer etc.

Tangible Products: Goods are tangible in nature because they can be touched, seen while consuming. For example: A vehicle, a smart phone etc.

Intangible Products: Services are mainly intangible because they can’t be touched, they can only be felt. For example: An insurance police, a computer software etc.

Answer 9

Expert Solution & Answer

Answer 10

Expert Solution & Answer

Answer 11

Explanation of Solution

Goods can be of many types.

Free goods: Goods which are in abundance and can be used by anybody are called free goods. For example: Air, sunlight etc.

Consumer goods: A final product which is produced to be consumed by a consumer to satisfy his needs and wants. For example: Biscuits, shampoo etc.

Intermediate goods: Parts and components which are used in making the final good are called intermediate goods. For example: Nuts, bolts, pipes etc.

Differences between Tangible and Intangible products are as

Tangible Products	Intangible Products
⋅They have a physical form and can be touched. ⋅The producer has more control over quality. ⋅Inventory can be stored for some future sales. ⋅For example: Furniture, vehicles, computers etc.	⋅They do not have a physical form and can’t be touched. ⋅The producer has less control over quality. ⋅No inventory to store and experience cannot be stored. ⋅For example: Patents, Brand value, Insurance policies etc.

Answer 12

Ch. 8 - Prob. 1QA Ch. 8 - Prob. 2QA Ch. 8 - Prob. 3QA Ch. 8 - Prob. 4QA Ch. 8 - Prob. 5QA Ch. 8 - Prob. 6QA Ch. 8 - Prob. 7QA Ch. 8 - Prob. 8QA Ch. 8 - Prob. 9QA Ch. 8 - Prob. 10QA

About Goods and the difference between Tangible and Intangible products

Concept explainers

To define: About Goods and the difference between Tangible and Intangible products

Answer to Problem 1QA

Explanation of Solution

Want to see more full solutions like this?

Chapter 8 Solutions