A Product Is a Good,service,or Idea Consisting of A(n)________ That

question 143

Multiple Choice

A product is a good,service,or idea consisting of a(n) ________ that satisfy consumers' needs and is received in exchange for money or something else of value.

• A)promise or commitment exchanged between a seller and a buyer
• B)bundle of tangible and intangible attributes
• C)assortment of value-possessing activities
• D)array of physical attributes
• E)collection of tangible qualities

---

Definitions:

Setup Cost

The expenses associated with configuring or preparing equipment, machinery, or production lines for manufacturing a new product batch or type.

Operate

Operate refers to the process of controlling and managing the functions of systems, machinery, or organizations.

Strategic Planning

A systematic process for envisioning a desired future and translating this vision into broadly defined goals or objectives and a sequence of steps to achieve them.

Supply Chain Network Design

The strategic planning and setup of a network of interconnected businesses involved in the provision of product and service packages required by end customers.