A Group of Similar Products That Differ Only in Relatively

question 174

Multiple Choice

A group of similar products that differ only in relatively minor characteristics is called

• A) inventory.
• B) a product line.
• C) product design.
• D) design planning.
• E) inventory control.

---

Definitions:

Gross Domestic Product

The aggregate value of all products and services finished within a nation's boundaries over a distinct timeframe, measured in monetary or market terms.

Gross National Product

The total value of all goods and services produced by a country's residents in a specific time period, including international activities.

Output

The amount of goods or services produced by a company, country, or economic system.

Human Development Index

An index measuring average achievements in a country in three basic dimensions of human development: long and healthy life, knowledge, and a decent standard of living.