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10-24DURABLE GOODSKNOWLEDGEA 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:bPage(s):244LO: 1AACSB: AnalyticQD: EasyRationale:Text term definition—durable goods.10-25DURABLE GOODSKNOWLEDGEProducts that usually last over many uses, such as cars and appliances, are referred to asa.endurable goods.b.nondisposable goods.c.imperishable goods.d.reliable products.e.durable goods.- 9 -
Answer:ePage(s):244LO: 1AACSB: AnalyticQD: EasyRationale:Text term definition—durable goods.10-26DURABLE GOODSCOMPREHENSIONWhich of the following is considered a durable good?a.silverwareb.caviarc.marketing researchd.chewing gume.votingAnswer:aPage(s):244LO: 1AACSB: AnalyticQD: MediumRationale:A durable good is one that usually lasts over an extended number of uses, such as silverware.10-27SERVICESKNOWLEDGEIntangible 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.servicesb.goodsc.productsd.marketing mixe.ideasAnswer:aPage(s):244LO: 1AACSB: AnalyticQD: EasyRationale:Key term definition—services.10-28SERVICESKNOWLEDGEServices refer toLO: 1AACSB: AnalyticQD: EasyRationale:Key term definition—services.10-29SERVICESKNOWLEDGE- 10 -
Services are a significant part of the U.S. economy, exceeding __________ percent of its gross domestic product.LO: 1AACSB: AnalyticQD: EasyRationale:Services have become a significant part of the U.S. economy, exceeding 40 percent ofits gross domestic product.10-30SERVICESCOMPREHENSION