ENTREPRENEURSHIP

Detailed explanation-1: -Services can be distinguished from products because they are intangible, inseparable from the production process, variable, and perishable. Services are intangible because they can often not be seen, tasted, felt, heard, or smelled before they are purchased.

Detailed explanation-2: -An intangible asset is an asset that is not physical in nature. Goodwill, brand recognition and intellectual property, such as patents, trademarks, and copyrights, are all intangible assets. Intangible assets exist in opposition to tangible assets, which include land, vehicles, equipment, and inventory.

Detailed explanation-3: -1. Service Business A service type of business provides intangible products ( products with no physical form ).

Detailed explanation-4: -Intangibility: Unlike products, services are intangible or impalpable, they cannot be seen, held, or touched. Simultaneity: In the case of goods, production and consumption are not simultaneous, and these activities do not occur at the same time or place. More items