A ______ is an activity or benefit that one party can offer to another that is essentially in tangible in nature. 

The correct answer is Service.Key Points

• A service is fundamentally different from a product or good.
• Services are activities or benefits that one party can offer to another which are essentially intangible and do not result in the ownership of anything physical.
• Examples of services include health care, education, maintenance services, consulting, etc.
• In this context, a service is an 'activity' that a party can offer - for instance, providing a consultation or performing a repair, and it is a 'benefit' - meaning it fulfills a need or solves a problem for the recipient.
• It's 'essentially intangible,' because unlike a product or goods, a service isn't something you can touch, hold, or store. Rather, it's experienced or used up at the point of delivery.
• Services fulfill the description provided of an activity or benefit offered from one party to another that is intangible in nature.
• For these reasons, the correct answer to this question is 2) Service.​

Additional Information

• Products and goods are often associated with physical, tangible items.
• A product refers to an item that the company offers for sale, such as a car, a book, or an electronic gadget.
• A good, on the other hand, refers to a material that satisfies human wants and provides utility, such as food, clothes, or appliances.
• Both products and goods normally have a physical form.