A Set of Business Activities That Add Value to Products

question 64

Multiple Choice

A set of business activities that add value to products and services sold to consumers for their personal use is called:

• A)licensing.
• B)manufacturing.
• C)franchising.
• D)retailing.
• E)reselling.

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Definitions:

Culture-Free Tests

Assessments intended to involve questions and processes providing all individuals with an equal familiarity or footing.

Intelligence

A measure of one’s ability to acquire and apply knowledge.

Differential Item Functioning

A phenomenon where different groups of test-takers respond differently to a particular test item, not due to differences in the trait being measured but due to some other characteristic.

Construct

An abstraction that cannot be seen directly but is valued because it helps organize the myriad of potential observations in the real world.