A Product Class Is

question 152

Multiple Choice

A product class is

• A) the NAICS designation of an individual product or brand.
• B) the designation of an individual product based upon its form.
• C) a variation of a product within a product mix.
• D) the designation of a product based on whether it is a consumer product or business product.
• E) the industry a set of offerings belongs to.

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Definitions:

Single Tax

A system where only one type of tax is levied, often proposed for simplifying the tax system.

Henry George

An American economist known for his advocacy of a single land tax and author of "Progress and Poverty," which argues land should be owned communally to address social inequalities.

Land

An essential factor of production representing all natural resources used to produce goods and services.

Total Supply

The entire amount of a particular good or service available for purchase at any given price and time in a market.