In the Context of Product Classifications, Tangibility Refers to the ________

question 35

Multiple Choice

In the context of product classifications, tangibility refers to the ________.

• A) service delivered with a product
• B) ability to create a combination of product and service
• C) physical aspects of a product
• D) value of a product in the market
• E) fundamental need met by a product

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Definitions:

Income

Regular revenue generated through employment or by making investments.

Goods and Services

Refers to the physical products and intangible benefits that fulfill the needs or wants of consumers.

Surplus

The condition when supply exceeds demand, leading to excess goods or services being available.

White Water Rafting

A recreational outdoor activity which uses an inflatable raft to navigate a river or other body of water with varying degrees of rough water.