A Product Is a Good, Service, or Idea Consisting of a Bundle

question 128

Multiple Choice

A product is a good, service, or idea consisting of a bundle of tangible and intangible attributes that satisfy consumers' needs and is received in exchange

• A)only for legal tender (money).
• B)for providing value.
• C)only for barter.
• D)for a person's time and effort.
• E)for money or something else of value.

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Definitions:

Cones

Photoreceptor cells in the retina of the eye that are responsible for color vision and function best in relatively bright light.

Vision

the ability to see; the faculty of sight.

Color

The characteristic of visual perception described through hues, such as red, blue, and yellow, determined by the spectrum of light.

Lens

A transparent optical device used to converge or diverge transmitted light and to form images.