Classification of products using the terms: nondurable goods,durable goods,and services essentially describe the _______ of a product.
A)consumption
B)tangibility
C)liquidity
D)porosity

Question

Quizplus · Accepted Answer

The terms nondurable goods, durable goods, and services describe the tangibility of a product. Nondurable goods are tangible products with a short lifespan (e.g. food, toiletries, office supplies), durable goods are tangible products that have a longer lifespan (e.g. appliances, furniture, vehicles), and services are intangible products that cannot be physically possessed (e.g. medical care, legal advice, education).

Classification of Products Using the Terms: Nondurable Goods,durable Goods,and Services