Which of the following is an example of a good?
Answer and explanation
Correct answer: School bag
A good is a physical product that can generally be seen, touched, stored, and transferred from one person to another. A school bag is a tangible product, so it is a good. Advice, repair, and teaching are intangible activities performed for customers; they are services rather than goods. Thus, option A correctly distinguishes a product from a service.
Frequently asked questions
What is the correct answer to this question?
School bag
Why is this the correct answer?
A good is a physical product that can generally be seen, touched, stored, and transferred from one person to another. A school bag is a tangible product, so it is a good. Advice, repair, and teaching are intangible activities performed for customers; they are services rather than goods. Thus, option A correctly distinguishes a product from a service.
Which subject and chapter does this question cover?
This is a Class 11 Business Studies question. Chapter: Business, Trade and Commerce. Topic: Classification of business activities.
