You Greatly Admire a Set of Waterford Crystal Serving Bowls

question 290

Multiple Choice

You greatly admire a set of Waterford crystal serving bowls you see at a dinner party, and decide to buy two, despite the price of $250 each.They are only available in your area in a Waterford shop 40 miles from campus.Into which classification of consumer products would the crystal bowls fall?

• A)convenience products
• B)shopping products
• C)specialty products
• D)unsought products
• E)derived goods

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Definitions:

Specialized Skills

Abilities or expertise in specific fields that individuals acquire through education, training, or practical experience.

Specialization and Exchange

The economic strategy where individuals or groups focus on the production of limited kinds of goods to trade for other goods.

Net Exports

The value of a country's total exports minus its total imports; a positive number indicates a trade surplus, while a negative number indicates a trade deficit.

GDP

The measure of all goods and services produced to their final stages within the confines of a country, valued in market or monetary terms over an identified period, defines the Gross Domestic Product.