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What Is the Term for the Qualities or Characteristics of a Product

question 33

Multiple Choice

What is the term for the qualities or characteristics of a product or service that are designed to provide value to a buyer?


Definitions:

Budget Line

An illustrative depiction of every possible pairing of two items that could be bought within a set budget at unchanging prices.

Slope

A measure of the steepness or incline of a line, often calculated as the ratio of the vertical change to the horizontal change between two points on the line.

Good A

A generic term often used in economics to describe a type of product or commodity.

Budget Line

A graphical representation of all possible combinations of two goods that a consumer can purchase with a given budget at prevailing prices.

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