Business services are also known as ___ to trade.

Auxiliaries

What distinguishes business services from goods?

Business services are intangible, cannot be stored, and are consumed at the point of delivery, while goods are tangible products that can be produced, stored, and sold.

True or False: The service sector includes only transportation and communication services.

False. The service sector includes various services such as banking, insurance, warehousing, and more.

Fill in the blank: Business services are essential for the functioning of ___ and ___.

Commerce and trade

What is e-banking?

E-banking refers to the use of electronic means to conduct banking transactions, allowing customers to access financial services online.

Riddle: I am intangible yet vital for trade, I help with finances, transport, and more. What am I?

Business services

Identify two types of business services.

Banking and insurance

True or False: Warehousing is considered a business service.

True

Fill in the blank: The collective term for services like banking, communication, transport, and insurance is called the ___ sector.

Service

What characteristic of services makes it impossible to assess their quality before utilization?

Intangibility

Fill in the blank: Services are characterized by ___, meaning they cannot be stored or inventoried.

Inseparability

True or False: The quality of a service can be standardized across different service providers.

False. The quality of services can vary even with the same provider.

What is meant by the term 'involvement' in the context of services?

Involvement refers to the active participation and engagement of both the service provider and the customer during the service delivery process.

Riddle: I cannot be touched, but I can be felt. I change with each encounter, yet I am always the same in essence. What am I?

A service

Fill in the blank: Services are often described as ___ because they cannot be physically perceived.

Intangible

What are the primary functions of a commercial bank?

The primary functions of a commercial bank include accepting deposits, providing loans and advances, and facilitating withdrawals through various types of bank accounts.

Fill in the blank: A Fixed Deposit account generally offers ___ interest rates compared to other types of accounts.

The highest

True or False: Current Deposit Accounts earn interest for the account holder.

False. Current Deposit Accounts do not earn interest; instead, banks charge for the services provided.

Riddle: I am used for storing money but do not earn you interest. I allow you to withdraw anytime, and I am popular among businessmen. What am I?

A Current Deposit Account

List three types of services provided by banks.

Business Services, Social Services, Personal Services.

What distinguishes business services from social services?

Business services are used by enterprises for operational activities, while social services are provided voluntarily to fulfill social goals.

Fill in the blank: Banks are institutions that accept deposits and make ___ for the purpose of earning profits.

Loans and advances