Terms D Flashcards
1
Q
Good
A
A material/tangible of value that satisfies needs and wants
2
Q
Durable goods
A
Goods that have a long lifespan and do not need to be replaced frequently
3
Q
Non durable goods
A
Goods that are purchased frequently and have a short lifespan
4
Q
Complementary goods
A
Goods that are associated or related to each other and generally concurred together
5
Q
Substitute goods
A
A good that can be purchased as an alternative to another good
6
Q
Service
A
Intangible products that are of value and may require time, expertise, labor to perform
7
Q
Five I’s of service
A
Intangible, Inventory, Inseparable, Inconsistent, Involvement
8
Q
Comparison Shopping
A
The practice of comparing the price of goods or services provided by different shops or companies before making a purchase
