Question

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.

Answer 1

B. Together, they represent everything that can be bought or sold.

Step-by-step explanation:

Goods are items that are usually tangible while services are activities provided by other people.

Some goods and services could be scarce, the goods because of a lack of production or the difficult it stands to be created. Services could be uncommon because of the place someone is living in or the service you want is very hard to achieve.

Its consumption, production, and distribution are the ones that underpin economic activity and trade.

I hope this answer helps you.

Answer 2

Goods and services are B. Together, they represent everything that can be bought or sold. They can be tangible or not which can be food, or any intagible service. They always have economic value. SO the answer to this problem would have to be B.