Price Includes Both Tangible Costs and Intangible Commodities

question 14

Multiple Choice

Price includes both tangible costs and intangible commodities.Which of the following is not an intangible commodity?

• A) Effort
• B) Time
• C) Fee for service
• D) Inconvenience

---

Definitions:

Interval Data

A type of numerical data that has meaningful differences between values and a true zero point.

Ordinal Data

Describes a type of data which is categorized into ordered but not necessarily equally spaced categories.

Null Hypothesis

A statement used in statistics that proposes no significant difference or effect.

Test Statistic

A value calculated from sample data that is used in hypothesis testing to determine if there is evidence to reject the null hypothesis.