PRC-3 · Chapter 7 · Question 66 of 72
Products are broadly classified into two primary economic categories. These are:
Test yourself: pick an answer
Reveal answer & explanation
Correct answer: C) Consumer and Industrial
Explanation
Products are broadly divided into Consumer products (bought by final users for personal use) and Industrial products (bought by businesses for further processing or operations).
More Concepts of Branding and Marketing MCQs
- Q68Heavy capital items, raw materials, and operating supplies are sub-categories of which major product type?
- Q69A consumer who purchases a virtual e-book on a Kindle instead of a physical paperback is engaging as a:
- Q70During the 'Introduction' phase of the Product Life Cycle, the majority of a company's costs are typically incurred in:
- Q71OLED TV technology is constantly improving in colors, resolution, and sleek designs. A TV manufacturer relies on continuous input for…
- Q72If a housing society focuses purely on creating high-quality living environments before considering how to sell them, its focus is…