#1
Which of the following is not a characteristic of goods?
Intangibility
ExplanationGoods are tangible items that can be seen or touched.
#2
Which category of goods can be classified as perishable?
Consumer goods
ExplanationConsumer goods, such as food items, are perishable.
#3
Which of the following is not a characteristic of convenience goods?
High customer involvement
ExplanationConvenience goods are characterized by low customer involvement and are readily available.
#4
Which of the following is an example of an intangible good?
A service contract
ExplanationService contracts represent intangible goods as they are not physical objects.
#5
What distinguishes consumer goods from industrial goods?
Consumer goods are used for personal consumption, while industrial goods are used for business purposes.
ExplanationConsumer goods are meant for personal use, while industrial goods are for business use.
#6
Which of the following is an example of a durable good?
Electronics like laptops
ExplanationDurable goods, such as laptops, are meant to last for an extended period.
#7
Which of the following is an example of a specialty good?
Rolex watches
ExplanationSpecialty goods like Rolex watches have unique characteristics or brand identification.
#8
What distinguishes unsought goods from other types of goods?
They are products that consumers do not seek to buy actively.
ExplanationUnsought goods are not actively sought by consumers and may require marketing efforts to sell.
#9
Which of the following is an example of an industrial good?
Factory machinery
ExplanationIndustrial goods encompass items like factory machinery used in manufacturing processes.