Question

Outputs that are intangible, cannot be easily inventoried, generally require high customer contact and often do not require intensive capital investment are known as?

1) operations
2) supply Chains
3) services
4) goods

Answer 1

Outputs that are intangible, require high customer contact, and do not require intensive capital investment are known as services.

Step-by-step explanation:

Outputs that are intangible, cannot be easily inventoried, generally require high customer contact, and often do not require intensive capital investment are known as services. Services differ from goods in several ways. Goods, like durable and nondurable products, are physical objects that can be held in inventory before they are sold, and their production does not necessarily involve direct customer interaction. By contrast, services, such as haircuts, education, and internet provision, are consumed at the point of delivery, and they cannot be stored or held in inventory. Services are a vital part of the economy, being about as prevalent as the production and sale of tangible goods.