CAPTER 1-2 QUESTIONS

1.
Goods production and Services supplu are produced or performed by companies; a good usually refers to tangible products while a service is an intangible product performed by a company.
The first difference between a good and a service is the one I already cited, basically a good can be seen and touched while a service cannot.
The second difference is that services are subject to variation; this means that a good is always the same while a service has a certain degree of variation for which every time is performed is kind of different.
The third is that a service requires a sort of interaction with the customer; this means that a service is produced when it interacts with the client while a good is produced in a facility apart from its customers.
The fourth difference is the fact that services are “perishable and time dependent” while a good can supposedly “live” forever.
The last difference is about ownership; a customer who buys a good becomes the owner of it while a customer who use a service does not own the service itself.
It becomes a little harder to define the similarities between goods production and service supply since they can be compared at various level. Moreover, I believe that the only and biggest thing that they have in common is their financial goal. Both goods and services are made for one reason: create a profit; this, I believe synthetize all the commonalities between goods production and services supply since there could be such a long extent of comparison to make.

2.
The industrial revolution is a phenomenon that was born in the first half of the 18th century in England. Throughout this period there had been a tremendous economic improvement and technological development thanks to various inventions and creations.
Scientific management is a Frederick W. Taylor’s theory which targets the overall efficiency