Which of the Following Statements Is Most Likely to Be

question 98

Multiple Choice

Which of the following statements is most likely to be true of convenience product?

• A)A convenience product is distributed exclusively in only one or a few outlets per market area.
• B)A convenience product is a product about which a consumer knows but does not normally consider buying it.
• C)A Lamborghini automobile is an example of a convenience product.
• D)A convenience product usually has a higher price than a specialty product.
• E)It is bought by consumers with minimal comparison and buying effort.

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Definitions:

Productivity

A measure of the efficiency of production, often quantified as the ratio of outputs to inputs in the production process.

Human Capital

The economic value of an individual's skill set and knowledge, considered an asset in the production process.

Physical Capital

Refers to tangible assets used in the production of goods and services, such as machinery, buildings, and tools.

Productivity

The measure of the efficiency of production, often defined as the ratio of output to inputs in the production process.