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Business Studies

Production Concept and Product Concept

can be define...

Question

______ can be defined as anything that can be offered to a market to satisfy a want or a need.

A

Product

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B

Market

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C

Package

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D

Price

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Solution

The correct option is C Product
A product is an item offered for sale. It can be an item or a service, virtual or cyber form. Every product is made at a cost and each is sold at a price. The product should be relevant, the users must have an immediate use for it.

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