Which of the Following Statements About the Distinction Between Consumer

question 237

Multiple Choice

Which of the following statements about the distinction between consumer goods and B2B goods is the most accurate?

• A) The same product can be classified as either a consumer good or an industrial good, depending upon its end use.
• B) Industrial goods tend to have a useful life of several years and can be depreciated while consumer goods typically last less than a year.
• C) Consumer goods are typically more expensive than industrial goods.
• D) Industrial goods are custom-made to the specifications of the buyer, while the all consumer goods are mass-produced.

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Definitions:

Median Household Income

The income amount that divides households into two equal groups, half having income above that amount and half having income below that amount.

Mean Household Income

The average income across all households.

Negative Income Tax

A government program that supplements the income of low-income working families.

Income Supplements

Financial support or assistance provided to individuals or families to help supplement their income and support their living expenses.