Which of the Following Is the Best Example of a Product

question 96

Multiple Choice

Which of the following is the best example of a product line?

• A)Sony offers DVD players,compact disc players,and video game consoles.
• B)Hewlett Packard offers scanners,printers,and personal computers.
• C)Kellogg offers Special K,Raisin Bran,Corn Flakes,and a variety of other cold ready-to-eat cereals.
• D)General Motors offers passenger cars,small trucks,and tractor trailers.

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Definitions:

Surplus

An excess quantity, especially referring to the situation where supply exceeds demand in a market, often leading to a decrease in prices.

Binding Minimum Wage

A minimum wage rate that is set above the equilibrium wage in the labor market, causing potential unemployment by forcing employers to pay more than the market rate for labor.

Incomes

Earnings received by individuals or entities for their labor, investments, or participation in business activities, often measured on a regular basis like monthly or yearly.

Minimum-Wage Laws

Legislation that sets the lowest hourly wage rate that an employer can legally pay to workers, aiming to ensure a minimum standard of living for employees.