Which term best describes intangible tasks performed for others?

Which term best describes intangible tasks performed for others?

• A. Telebanking
• B. Capital
• C. Commodity
• D. Services

Answer: (D)

Intangible tasks performed for others are called services. The key point is that services are actions or performances that provide value without transferring ownership of a physical product. They’re about doing something for someone else—advice, care, maintenance, or expertise—rather than delivering a tangible item. For example, hiring a consultant, getting a haircut, or receiving legal counsel are all services. Telebanking describes a way to deliver a service remotely, not the nature of the task itself; a commodity is a tangible good, and capital refers to financial assets rather than activities performed for others.

Intangible tasks performed for others are called services. The key point is that services are actions or performances that provide value without transferring ownership of a physical product. They’re about doing something for someone else—advice, care, maintenance, or expertise—rather than delivering a tangible item. For example, hiring a consultant, getting a haircut, or receiving legal counsel are all services. Telebanking describes a way to deliver a service remotely, not the nature of the task itself; a commodity is a tangible good, and capital refers to financial assets rather than activities performed for others.