Question

product of a ____ business are intangible in nature​

Answer 1

Answer:

product of a service provider business are

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intangible in nature

Answer 2

The products of a service business are intangible in nature.

Explanation:

• The products of a business can be classified into tangible and intangible products.

• A goods-producing business provides tangible products by manufacturing or other means, whereas the products of a service-provider business are intangible.

• Services cannot be separated from their production as they are produced and consumed concurrently.

• Since services are in the form of acts or actions and cannot be touched or felt at the time of purchase, they are classified as intangible products.

• Examples of service-providing businesses are insurance, law firms, consulting firms, internet/call service providers, coaching classes, event management, real estate agency, travel agency,