Products Which Are Purchased by End Users for Their Personal

question 284

Multiple Choice

Products which are purchased by end users for their personal use are ________ goods, while products which are purchased by companies for production purposes are ________ goods.

• A) industrial; consumer
• B) capital; accessory
• C) consumer; industrial
• D) high utility; low utility
• E) none of these

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Definitions:

Product Utility

Refers to the value or satisfaction a consumer derives from the use of a product or service, encompassing aspects like form, time, place, and possession utility.

Marketspace

The digital counterpart to a physical marketplace, where transactions are facilitated online through the internet.

Customization

The process of tailoring a product or service to meet the specific needs or preferences of an individual customer or market segment.

Collaborative Relationship

A collaborative relationship involves working together cooperatively, sharing resources, ideas, and efforts to achieve a common goal.