When a firm lacks the ability to prevent people from consuming a good or service, the good is called a:________

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28-07-2022
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When a firm lacks the ability to prevent people from consuming a good or service, the good is called a:________

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shivanijain4931 shivanijain4931 · Answer 1 · 2022-08-04T19:23:20+02:00

When a firm lacks the ability to prevent people from consuming a good or service, the good is called a non-excludable.

A service is "an act or use for which a consumer, business, or government is willing to pay". Examples include work by hairdressers, doctors, lawyers, mechanics, banks, insurance companies, etc. Public services are paid for by society as a whole.

Goods are physical, tangible objects, whereas services are inherently non-physical, intangible and, like goods, can satisfy needs. Financial Services – Banks, Telecoms, DTH, Couriers, Hotels, Airlines, Multiplexes, Railways, Doctors, Lawyers, Healthcare, and Business Consulting are examples of services.

A service company in the commercial sense is a company that provides the performance of activities or tasks for commercial purposes. This job is designed to assist businesses or individuals in topics such as consulting, accounting, transportation, cleaning, hospitality, travel and maintenance.

Learn more about service here:https://brainly.com/question/1286522
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