Which of the Following Statements Best Describes a Good

question 145

Multiple Choice

Which of the following statements best describes a good?

• A)Goods are physical objects.
• B)Goods are the only currency that can be used in an exchange.
• C)Goods are intangible concepts and thoughts about ideas or causes.
• D)Goods are the benefits organizations receive for selling products and services.
• E)Goods can be either tangible or intangible.

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Definitions:

Trades

Exchanges of goods, services, or financial assets between individuals, businesses, or countries.

Opportunity Cost

The value of the next highest valued alternative that is given up when making a decision.

Alternatives Not Chosen

Options that are forsaken when a decision is made in favor of another option.