Question

what is product
a) commodity
b) goods
c) Services
d) Goods and services ​

Answer 1

Answer:

a

Explanation:

product is commodity

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Answer 2

A product can be defined as any commodity that can be seen and touched.

Explanation:

1. A product is necessarily a commodity that can be seen, touched, and physically present in the market.
2. It is different from Services because services are intangible in nature and cannot be seen and touched.
3. Moreover, a product can be measured in specific terms of money. However, a service is not necessarily measurable in quantity.
4. Service is provided by people who are skillful and professional while products can be produced by anyone who has resources to procure the raw material and man force for the operations.