Match the Term with Its Definition

question 9

Multiple Choice

Match the term with its definition.
-A total bundle of satisfaction-whether a service, a good, or both-offered to consumers in an exchange transaction

• A)channel of distribution
• B)copyright
• C)patent
• D)product
• E)product item
• F)product life cycle
• G)product line
• H)product mix
• I)product mix consistency
• J)product strategy
• K)sustainable competitive advantage

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Definitions:

Income Security

A social welfare concept ensuring individuals have a basic level of income to cover essential needs.

Social Security

A government program that provides financial assistance to individuals during retirement, disability, or upon the death of a spouse or parent.

Discretionary Spending

This refers to the portion of government spending that is decided through the annual appropriations process, covering non-essential services that do not include mandatory spending like Social Security and Medicare.

Federal Spending

involves the financial expenditures of the federal government, including spending on defense, education, public services, and social welfare.