"Product" means:
A) all the services needed with a physical good.
B) a physical good with all its related services.
C) the need-satisfying offering of a firm.
D) all of a firm's producing and distribution activities.
E) a well-packaged item with a well-advertised brand name.

Question

Quizplus · Accepted Answer

The term "product" refers to the need-satisfying offering of a firm, which may include physical goods, services, or a combination of both. It is not limited to just physical goods and their related services (B), nor does it encompass all of a firm's producing and distribution activities (D) or packaging and advertising (E). The closest option is A, but it is not entirely accurate as it only considers services in relation to physical goods, rather than all services offered by a firm.

"Product" Means