Which of the Following Is Considered a Durable Good

question 10

Multiple Choice

Which of the following is considered a durable good?

• A)medical care
• B)clothing
• C)food
• D)a washing machine

Identify the application of res ipsa loquitur in bailment cases.

Understand the distinction between goods and services, including examples and characteristics.

Identify the differences between durable and nondurable goods.

Recognize the impact of product types on marketing strategies.

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Definitions:

Patent Rights

Legal protections granted to inventors or assignees, giving them exclusive rights to use and commercialize their inventions for a certain period.

Double-Declining-Balance

A method of accelerated depreciation where an asset loses value at double the rate of its straight-line depreciation.

Units-Of-Activity

A method for allocating depreciation based on the actual usage, work, or units of production of the asset, rather than passage of time.

Residual Value

The approximate worth of an asset when it reaches the end of its usable life.