Question
A company offers online tutoring and sells educational software.
Which statement best explains how these offerings differ in terms of economic classification?
Both are services because they support learning.
Both are goods because they involve technology.
Tutoring is a service because it involves performance; software is a good because it is a transferable product.
Tutoring is a good because it improves knowledge; software is a service because it is digital.
Which statement best explains how these offerings differ in terms of economic classification?
Both are services because they support learning.
Both are goods because they involve technology.
Tutoring is a service because it involves performance; software is a good because it is a transferable product.
Tutoring is a good because it improves knowledge; software is a service because it is digital.
Answers
GPT-4o mini
The statement that best explains how these offerings differ in terms of economic classification is:
**Tutoring is a service because it involves performance; software is a good because it is a transferable product.**
This statement accurately distinguishes between the two by highlighting that tutoring requires direct interaction and performance by the tutor, while educational software is a tangible product that can be sold and transferred to the consumer.
**Tutoring is a service because it involves performance; software is a good because it is a transferable product.**
This statement accurately distinguishes between the two by highlighting that tutoring requires direct interaction and performance by the tutor, while educational software is a tangible product that can be sold and transferred to the consumer.