wiz-icon
MyQuestionIcon
MyQuestionIcon
11
You visited us 11 times! Enjoying our articles? Unlock Full Access!
Question

Products can be classified in two categories.

A
True
Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses
B
False
No worries! We‘ve got your back. Try BYJU‘S free classes today!
Open in App
Solution

The correct option is A True
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. It can be classified into two categories i.e industrial products which are used to produce further products for consumer use and consumer products which is also known as final good that can be used by consumers.

flag
Suggest Corrections
thumbs-up
0
Join BYJU'S Learning Program
similar_icon
Related Videos
thumbnail
lock
Product and Pricing
BUSINESS STUDIES
Watch in App
Join BYJU'S Learning Program
CrossIcon