Examlex
Which of the following is a key component of output in the input-process-output model?
Goods and Services
The output of an economy or a firm that consists of tangible commodities (goods) and intangible activities (services) offered to satisfy consumer needs.
Subjective Concept
An idea or notion based on personal opinions, interpretations, points of view, emotions, and judgment.
Objective Concept
An idea or notion that is based on factual and observable phenomena, unbiased by personal feelings or interpretations.
Personal Preferences
The specific likes, dislikes, desires, and interests of an individual, often influencing their purchasing decisions.
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