Which of the Following Consists of Intangible Products That Firms

question 44

Multiple Choice

Which of the following consists of intangible products that firms buy to facilitate their production and operating processes?

• A) installations
• B) accessories
• C) business services
• D) operating supplies

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Definitions:

Risk Averse

A description of an individual or entity that prefers to avoid risk or chooses lower risk options when faced with uncertainty, often prioritizing security over potential higher returns.

Utility Function

A mathematical representation describing how consumers rank different bundles of goods based on the level of satisfaction they provide.

Marginal Utility

The extra pleasure or benefit derived from the consumption or utilization of an additional unit of a product or service.

Marginal Utility

The additional satisfaction or usefulness obtained from acquiring or consuming one more unit of a good or service.