What term refers to intangible products that a person performs for another?

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Multiple Choice

What term refers to intangible products that a person performs for another?

Explanation:
The term for intangible products that a person performs for another is services. Services are actions or performances rather than physical goods, delivered by one person to benefit another—examples include teaching, medical care, or haircuts. This distinguishes them from commodities, which are tangible goods like food or metal. Specialization refers to focusing on a specific skill or product, not the type of output, and a consumer is the person who buys or uses goods or services, not the product itself.

The term for intangible products that a person performs for another is services. Services are actions or performances rather than physical goods, delivered by one person to benefit another—examples include teaching, medical care, or haircuts. This distinguishes them from commodities, which are tangible goods like food or metal. Specialization refers to focusing on a specific skill or product, not the type of output, and a consumer is the person who buys or uses goods or services, not the product itself.

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