If a Consumer Purchases a New Flat-Screen "Smart" Television Which

question 3

Multiple Choice

If a consumer purchases a new flat-screen "smart" television which can connect to services like Netflix and Pandora, what is the core customer value involved?

• A) connection to entertainment and information
• B) state-of the art technology
• C) slick and attractive packaging
• D) brand name
• E) tech support and warranty

---

Definitions:

Workers

Individuals engaged in any form of economic activity to earn a wage or salary, including both skilled and unskilled labor.

Total Cost

The complete cost of production that includes both variable and fixed costs.

Economics

The social science that studies how individuals, governments, firms and nations make choices on allocating scarce resources to satisfy their unlimited wants.

Farming

The practice of cultivating crops and raising livestock for food, fiber, biofuel, medicinal plants, and other products used to sustain and enhance human life.