_____ Products, Which Are Products or Services That Have Been

question 78

Multiple Choice

_____ products, which are products or services that have been standardized for all markets, are becoming increasingly important in international marketing efforts.

• A)Global
• B)Domestic
• C)Local
• D)Regional

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Definitions:

Marginal Cost

The extra cost incurred by producing one more unit of a product or service.

Marginal Benefit

The extra value or contentment obtained when one more unit of a good or service is consumed or produced.

Positive Externality

A benefit that is enjoyed by a third-party as a result of an economic transaction.

Spillover Benefit

An advantage that results from an activity or product but benefits those who are not directly involved in its production or consumption.