Business Products Are Classified into the Following Seven Categories According

question 64

Multiple Choice

Business products are classified into the following seven categories according to characteristics and intended uses: raw materials, installations, accessory equipment, component parts, process materials, business services, and

• A) production activities.
• B) service assistance.
• C) specialty industrial products.
• D) computer programming and operation services.
• E) MRO supplies.

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Definitions:

Produced Illegally

Goods or services manufactured or distributed in violation of laws.

Produced at Home

Refers to goods or services generated within a household, often not exchanged in formal markets, such as home-cooked meals or DIY projects.

GDP

Gross Domestic Product represents the complete market value of all final goods and services produced inside a nation's boundaries over a specific time frame.

Disposable Personal Income

The amount of money that households have available for spending and saving after income taxes have been accounted for.