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.

Question

Social Studies

Amaris Johns

3 June, 02:57

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.

+3

Answers (1)

Know the Answer?

Jennifer Riggs · Answer 1

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.

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.

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.