Which of the Following Statements Regarding Goods Is Most Accurate

question 247

Multiple Choice

Which of the following statements regarding goods is most accurate?

• A)In order to be classified as a good,an item must appeal to all five senses.
• B)Music is not considered a good because it only involves a single sense-hearing.
• C)Some goods also have intangible attributes.
• D)To market a good that contains visual attributes,you cannot use an auditory medium.
• E)The aroma of chocolate chip cookies is considered an idea because it affects one's senses.

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Definitions:

Supply Curve

A graph showing the relationship between the quantity of goods that producers are willing to sell and the price of those goods.

Buyers Pay

The principle where the purchaser of a good or service is responsible for paying any tax or additional cost associated with its purchase.

Tax Burden

The total amount of tax paid by individuals or businesses, often expressed as a percentage of income or economic output.

Tax Imposed

A compulsory financial charge or some other type of levy placed upon a taxpayer by a governmental organization.