Compare the four types of products in the societal classification of products. Provide examples of each type to illustrate your answer
What will be an ideal response?
Products can be classified according to their degree of immediate consumer satisfaction and long-run consumer benefit. Pleasing products give high immediate satisfaction but may hurt consumers in the long run. Examples include cigarettes and junk food. Salutary products have low immediate appeal but may benefit consumers in the long run; for instance, bicycle helmets or some insurance products. Desirable products give both high immediate satisfaction and high long-run benefits, such as a tasty and nutritious breakfast food.
You might also like to view...
Which of the following is assumed when considering the additivity feature of linear programming (LP) models?
a. The contribution of decision variables to the objective function is proportional. b. The contribution of decision variables to each resource is proportional. c. The contribution of each decision variable can be added to obtain the overall value of the objective function. d. All of the above are features of proportionality in LP.
Exploration involves organizational members learning ways to refine and improve existing organizational activities and procedures to increase effectiveness
Indicate whether the statement is true or false