Which of the Following Statements Describes a Standardized Good or Service

question 53

Multiple Choice

Which of the following statements describes a standardized good or service?

• A) Any two units have the same features and are interchangeable.
• B) Any two units have similar features and could be considered close substitutes.
• C) Any two units have different, unique features.
• D) Any two units are economically unique with distinguishable characteristics.

---

Definitions:

Political Terms

Specific terminology used within the context of politics to describe processes, ideologies, structures, and roles.

Ingroup Favoritism

A psychological pattern where individuals prefer and favor members of their own group over those from different groups.

Prejudiced

Prejudiced refers to having preconceived opinions or judgements about something or someone, often involving negative and unfounded attitudes towards different races, genders, or other social groups.

Minimal Group Effect

The finding that people show favoritism toward ingroup members even when group membership is randomly determined.