Standardization of Product Has a _____ Orientation (Lower Costs Via

question 67

Multiple Choice

Standardization of product has a _____ orientation (lower costs via mass production) .

• A)market-driven
• B)service-driven
• C)budget-driven
• D)promotion-driven
• E)product-driven

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Definitions:

Conditional Sales Agreement

A sales contract in which the buyer takes possession of the item immediately but does not gain ownership until the full price is paid.

Equity Of Redemption

The equitable right of a mortgagor to acquire the title to the mortgaged property by payment of the debt secured by the mortgage.

Arrears

A state of being behind in fulfilling obligations, such as payments on a loan, rent, or utilities.

Purchaser

An individual or entity that buys goods or services from a seller.