Marketers Define a ________ as Any Physical Good, Service, or Idea

question 28

Multiple Choice

Marketers define a ________ as any physical good, service, or idea that satisfies a want or need.

• A) product
• B) copyright
• C) prototype
• D) concept

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Definitions:

Price Increase

A rise in the cost of goods or services, affecting the purchasing power of consumers.

Widgets

A generic term often used to refer to any hypothetical manufactured good or product.

Sales Decrease

A situation in which the quantity of products sold by a company or in a market declines.

Demand Curve

A graph showing the relationship between the price of a good and the amount that consumers are willing and able to purchase at different prices.