10 24 DURABLE GOODS KNOWLEDGE A durable good is defined as an a item consumed

10 24 durable goods knowledge a durable good is

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10-24 DURABLE GOODS KNOWLEDGE A durable good is defined as a(n) a. item consumed in one or a few uses. b. item that usually lasts over an extended number of uses. c. item that lasts at least one year without becoming obsolete. d. product purchased only for the use of ultimate consumers. e. product used in the production of other products. Answer: b Page(s): 244 LO: 1 AACSB: Analytic QD: Easy Rationale: Text term definition—durable goods. 10-25DURABLE GOODSKNOWLEDGEProducts that usually last over many uses, such as cars and appliances, are referred to as a.endurable goods.b.nondisposable goods.c.imperishable goods.d.reliable products.e.durable goods. - 9 -
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Answer:ePage(s):244 LO: 1 AACSB: Analytic QD: Easy Rationale: Text term definition—durable goods. 10-26 DURABLE GOODS COMPREHENSION Which of the following is considered a durable good? a. silverware b. caviar c. marketing research d. chewing gum e. voting Answer: a Page(s): 244 LO: 1 AACSB: Analytic QD: Medium Rationale: A durable good is one that usually lasts over an extended number of uses, such as silverware. 10-27 SERVICES KNOWLEDGE Intangible activities or benefits that an organization provides to satisfy consumers’ needs in exchange for money or something else of value are referred to as __________. a. services b. goods c. products d. marketing mix e. ideas Answer: a Page(s): 244 LO: 1 AACSB: Analytic QD: Easy Rationale: Key term definition—services. 10-28SERVICESKNOWLEDGEServices refer to LO: 1 AACSB: Analytic QD: Easy Rationale: Key term definition—services. 10-29 SERVICES KNOWLEDGE - 10 -
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Services are a significant part of the U.S. economy, exceeding __________ percent of its gross domestic product. LO: 1 AACSB: Analytic QD: Easy Rationale: Services have become a significant part of the U.S. economy, exceeding 40 percent of its gross domestic product. 10-30 SERVICES COMPREHENSION
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