Which of the Following Statements Is Not Characteristic of a Good

question 4

Multiple Choice

Which of the following statements is not characteristic of a good?

• A) Goods are tangible items that can be touched.
• B) Goods can be produced and then stored to sell at some future time.
• C) Goods are typically manufactured at the location where the customer makes the purchase.
• D) Goods can be owned by the customer.
• E) Goods are typically mass-produced.

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Definitions:

Creative Destruction

A process where new innovations lead to the demise of older technologies or methods, driving economic development.

Film Camera

A photographic camera that uses light-sensitive film to capture images, as opposed to digital cameras that capture images electronically.

Digital Camera

An electronic device that captures photographs in digital format, allowing for storage, manipulation, and sharing of images without film.

Entrepreneurial Judgment

The ability of an entrepreneur to make decisions that influence the success and direction of a business, often under conditions of uncertainty.