Which of the following statements describes a standardized good or service?
A) Any two units have the same features and are interchangeable.
B) Any two units have similar features and could be considered close substitutes.
C) Any two units have different, unique features.
D) Any two units are economically unique with distinguishable characteristics.

Question

Quizplus · Accepted Answer

A standardized good or service means that any two units have the same features and are interchangeable, making them identical in terms of quality and specifications.

Which of the Following Statements Describes a Standardized Good or Service