A socialist form of government is where the goods and service is equally shared, and the political power is distributed among the people. This statements are True.
A service transaction involves the transfer of intangible products from the vendor to the customer. When describing services, methods are typically mentioned rather than real products. The economy's intangible component is service. It only lives while being delivered by the supplier and consumed by the client. When a company provides a service to clients, the ownership remains constant. It is also impossible to transfer or store services. Attending a play at the theater is an example of a service. There is no way to save or carry over this kind of service.
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