Which of the following statements is NOT true regarding the differences between goods and services?

• A. Goods are tangible, while services are intangible.
• B. Services can be separated from their provider, while goods cannot.
• C. Goods are usually produced before consumption, whereas services are often produced and consumed simultaneously.
• D. Goods can be stored for future use, but services cannot be stored.

Answer: (B)

Verified step by step guidance

1. Step 1: Understand the key characteristics that differentiate goods from services. Goods are tangible items that can be touched and stored, while services are intangible and cannot be physically possessed.
2. Step 2: Analyze the statement 'Goods are tangible, while services are intangible.' This is a fundamental and true distinction between goods and services.
3. Step 3: Examine the statement 'Goods are usually produced before consumption, whereas services are often produced and consumed simultaneously.' This reflects the simultaneity characteristic of services and is true.
4. Step 4: Consider the statement 'Goods can be stored for future use, but services cannot be stored.' This highlights the perishability of services and is true.
5. Step 5: Evaluate the statement 'Services can be separated from their provider, while goods cannot.' Since services are typically inseparable from their provider (the provider and the service are often linked), this statement is NOT true, making it the correct answer to the question.