Match Each Item with the Correct Statement Below

question 165

Multiple Choice

Match each item with the correct statement below.
-A product that contributes directly or indirectly to the output of other products for resale is also known as a(n) _____ product.

• A)marketing mix
• B)specialty products
• C)product
• D)services
• E)convenience products
• F)impulse goods
• G)installations
• H)wholesalers
• I)business-to-business (B2B)
• J)supplies
• K)emergency goods
• L)shopping products
• M)component parts and materials
• N)staples
• O)product mix
• P)product line
• Q)line extension
• R)total quality management
• S)product lifecycle
• T)benchmarking

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Definitions:

Contract Formed

refers to the creation of a legally binding agreement that arises when an offer by one party is accepted by another party, meeting the necessary legal requirements.

Unilateral Contract

A contract where one party makes a promise in exchange for the performance of a specified act by the other party, who is not obligated to perform.

Quasi Contract

An obligation imposed by law to prevent unjust enrichment, where no actual contract exists.

Uniform Commercial Code

A comprehensive set of laws governing commercial transactions in the United States, intended to harmonize the law among the states.