There Is No Set Time That a Product Takes to Move

question 15

Multiple Choice

There is no set time that a product takes to move through its life cycle. But, as a rule, __________.

• A)services do not have a life cycle like products do
• B)consumer products have shorter life cycles than business products
• C)technological change tends to lengthen product life cycles
• D)business products have shorter life cycles than consumer products
• E)product life cycles are longer for ideas than for services

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Definitions:

GDP

Gross Domestic Product, the total monetary value of all final goods and services produced within a country's borders in a specific time period.

American Tourists

Individuals from the United States who travel to different countries or destinations for pleasure, leisure, or cultural experiences.

GNP

Gross National Product, which measures the total economic output produced by a country's residents, both domestically and abroad.

GDP

Gross Domestic Product, which is the total monetary or market value of all the finished goods and services produced within a country's borders in a specific time period.