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Flashcards: Business Services 44 Flashcards 
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Business services are also known as ___ to trade. |
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Auxiliaries |
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What distinguishes business services from goods? |
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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. |
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True or False: The service sector includes only transportation and communication services. |
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False. The service sector includes various services such as banking, insurance, warehousing, and more.  |
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Fill in the blank: Business services are essential for the functioning of ___ and ___. |
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Commerce and trade  |
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What is e-banking? |
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E-banking refers to the use of electronic means to conduct banking transactions, allowing customers to access financial services online.  |
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Riddle: I am intangible yet vital for trade, I help with finances, transport, and more. What am I? |
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Business services  |
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Identify two types of business services. |
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Banking and insurance |
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True or False: Warehousing is considered a business service. |
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True |
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Fill in the blank: The collective term for services like banking, communication, transport, and insurance is called the ___ sector. |
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Service  |
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What characteristic of services makes it impossible to assess their quality before utilization? |
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Intangibility  |
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Fill in the blank: Services are characterized by ___, meaning they cannot be stored or inventoried. |
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Inseparability  |
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True or False: The quality of a service can be standardized across different service providers. |
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False. The quality of services can vary even with the same provider. |
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What is meant by the term 'involvement' in the context of services? |
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Involvement refers to the active participation and engagement of both the service provider and the customer during the service delivery process. |
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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? |
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A service |
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Fill in the blank: Services are often described as ___ because they cannot be physically perceived. |
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Intangible  |
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What are the primary functions of a commercial bank? |
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The primary functions of a commercial bank include accepting deposits, providing loans and advances, and facilitating withdrawals through various types of bank accounts. |
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Fill in the blank: A Fixed Deposit account generally offers ___ interest rates compared to other types of accounts. |
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The highest |
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True or False: Current Deposit Accounts earn interest for the account holder. |
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False. Current Deposit Accounts do not earn interest; instead, banks charge for the services provided. |
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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? |
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A Current Deposit Account |
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List three types of services provided by banks. |
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Business Services, Social Services, Personal Services. |
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What distinguishes business services from social services? |
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Business services are used by enterprises for operational activities, while social services are provided voluntarily to fulfill social goals. |
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Fill in the blank: Banks are institutions that accept deposits and make ___ for the purpose of earning profits. |
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Loans and advances |
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 Completed! Keep practicing to master all of them. |
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