A(n) ________ Is Defined as a Tangible Good, Service, Idea

question 5

Multiple Choice

A(n) ________ is defined as a tangible good, service, idea, or some combination of these that satisfies consumer or business customer needs through the exchange process.

• A) augmented product
• B) service
• C) core product
• D) product
• E) innovation

---

Definitions:

Government Spending

The total amount of public funds that a government disburses on various services and projects.

Budget Deficits

The situation when a government's expenditure exceeds its revenue, resulting in a shortfall that needs to be financed through borrowing.

Economic Efficiency

A state in which resources are allocated in a way that maximizes the production of goods and services at the lowest cost.

Monetary Policy

The management of a country's money supply and interest rates by its central bank, aimed at controlling inflation, stabilizing currency, and achieving economic growth.