What term refers to actions that are performed for consumers and are intangible?

Prepare for the DECA Economics Exam. Study with interactive quizzes, multiple choice questions, hints, and detailed explanations. Get ready to excel on your test!

The term that refers to actions performed for consumers and is intangible is "services." Services are activities that provide value to consumers but do not result in the ownership of a physical product. Examples include haircuts, medical treatments, legal advice, and education. These activities are characterized by their intangibility, meaning they cannot be touched or owned in the same way that physical goods, such as cars or clothing, can be.

Goods, on the other hand, are tangible items that can be physically touched and owned. Resources are inputs used in the production of goods and services, while capital generally refers to financial assets or physical assets used to produce goods and services. These terms do not capture the intangible nature of services, which is why "services" is the most accurate choice in this context.

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