Rachel, a university student, purchases a watch as a gift forher mother. In this scenario, the watch is an example of a(n) _____ product

a. industrial

b. consumer

c. intermediate
d. business


ANSWER: b

The watch is an example of a consumer product asit is bought as a gift for personal use. A consumer product is bought to satisfy an individual's personal wants or needs. The key characteristic distinguishing business products from consumer products is intended use, not physical form.

Business

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Typically, a ________ involves the tasks of designing the information needed, specifying the measurement and scaling procedures, and developing a plan of data analysis

A) research classification B) research design C) design formulation D) none of the above

Business

The 1995 National Securities Markets Improvement Act limited regulation of investment companies to the ________ and did away with some state authority in this area

A) New York Stock Exchange (NYSE) B) Federal Trade Commission (FTC) C) Securities and Exchange Commission (SEC) D) Federal Reserve Board (FRB)

Business

In an assignment, the party receiving the rights is the assignee

Indicate whether the statement is true or false

Business

If a buyer does not receive goods by the contract deadline, remedies available include all of the following EXCEPT A) incidental and consequential damages

B) cover. C) damages for non-delivery. D) cure.

Business