The Output of an Extended Warranty on a Piece of Equipment

question 31

Multiple Choice

The output of an extended warranty on a piece of equipment you purchased is ________.

• A)peace of mind
• B)a part of the product
• C)consumer loyalty
• D)a guarantee to repair or replace your product if it should break down

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Definitions:

Trade Deficit

A condition in which the total cost of goods and services a country buys from abroad is greater than the total cost of goods and services it sells to other countries.

Trade Surplus

A trade surplus occurs when a country exports more goods and services than it imports, indicating a positive balance of trade.

Goods

Tangible items that are produced or manufactured and can be bought, sold, or traded.

Services

Intangible products that are produced and consumed at the same time, offering value without transferring ownership.