Which of the Following Statements Is TRUE of Goods and Services

question 58

Multiple Choice

Which of the following statements is TRUE of goods and services?

• A) A variant is always a durable good with new features.
• B) An automobile is a nondurable good.
• C) Demand for goods is more difficult to predict than demand for services.
• D) Normally, patents do not protect services.

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Definitions:

For-Profits

Organizations or businesses that operate with the primary goal of making profits for their owners or shareholders.

Government Agencies

Public organizations at the local, state, or federal level that administer and enforce laws, regulations, and policies.

Corporate Level

Pertains to the highest strategic tier of business decisions and actions that affect the entire organization.

Strategy

A high-level plan to achieve one or more goals under conditions of uncertainty.