Which of the following is true of agricultural goods and raw materials?
A)These products have a high value per unit.
B)These products are fairly homogeneous.
C)These products are always sold in single units or in small volumes.
D)These products cannot be used to produce other goods.

Question

Quizplus · Accepted Answer

Agricultural goods and raw materials are often fairly homogeneous, meaning they have similar characteristics and are interchangeable with other products of the same type. This is because the quality and composition of crops and other agricultural products are largely determined by environmental factors like weather, soil, and water, which are largely outside the control of individual producers. This makes it difficult for individual producers to differentiate their products in the market, and typically leads to lower prices for agricultural goods and raw materials compared to more differentiated products like consumer electronics or luxury goods.

Which of the Following Is True of Agricultural Goods and Raw