$5$ Multiple$-$choice Questions: $2$ Points each. Please mark the answer in boldface or by writing it at the end of the question. Please do not use colors to mark the answers.

$1.$ Which of the following is an example of competitive advantage$($s$)$ one would seek?

A$.$ Lowest price$/$cost: delivered vs$.$ lifetime of the product$/$service$.$

B$.$ Highest quality: product$/$service performance, tolerances, purity, and customer service.

C$.$ Most dependable$/$reliable: product or service, delivery or availability, field service$/$repair$.$

D$.$ Most flexible: broad product line, customized products & services, fast response$/$delivery times.

E$.$ All of the above

Answer$\_\_($E$)$ All of the above$\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_$

$2.$ Which of the following statements is $($are$)$ true about services?

A$.$ What works well in providing one kind of service may prove disastrous in providing another kind.

B$.$ Quality of service includes not only quality of work, but also other factors like how long it takes before the work is completed.

C$.$ Critical elements of the service product are difficult to define because most services contain a mix of tangible and intangible attributes.

D$.$ All of the Above

Answer$\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_$

$3.$ Which of the following statements is $($are$)$ true about services?

A$.$ Most services are experienced, whereas goods are consumed.

B$.$ Capacity, as measured by labor hours, is a surrogate for inventory.

C$.$ Effective management of services requires understanding marketing, personnel, and operations.

D$.$ All of the Above.

Answer$\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_$