Types of Products and Benefits of Purchasing Local Goods Quiz

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What is the definition of a product?

Anything that can be offered to a market to satisfy a want or need (correct)

Anything that provides an intangible benefit

Anything that is sold locally

Anything that is grown or manufactured

Which of the following is considered a Grown Product?

Fruits, plants, and vegetables (correct)

Manufactured goods

Services

All of the above

What is the main benefit of purchasing local goods and services?

It stops the value of colonial mentality

It gives additional tax revenue to the government

It develops skills and innovation in the Filipino people

All of the above (correct)

Which of the following is NOT a factor to consider when purchasing local goods and services?

Ensure the sustainability of the items Signup and view all the answers

What is the purpose of a stock card?

To track the inventory of goods and materials Signup and view all the answers

Which of the following is considered an intangible product?

Services Signup and view all the answers

What is the purpose of inventory control?

To check and balance the resources of the business Signup and view all the answers

Which of the following is NOT a factor to consider when purchasing local goods and services?

Ensure the quality of the items Signup and view all the answers

What is the difference between inventories and stocks?

Inventories are the goods and materials available for production, while stocks are the inventory itself in various forms Signup and view all the answers

Which of the following is NOT a benefit of purchasing local goods and services?

It reduces the use of natural resources Signup and view all the answers

Types of Products and Benefits of Purchasing Local Goods Quiz

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Questions and Answers

What is the definition of a product?

Which of the following is considered a Grown Product?

What is the main benefit of purchasing local goods and services?

Which of the following is NOT a factor to consider when purchasing local goods and services?

What is the purpose of a stock card?

Which of the following is considered an intangible product?

What is the purpose of inventory control?

Which of the following is NOT a factor to consider when purchasing local goods and services?

What is the difference between inventories and stocks?

Which of the following is NOT a benefit of purchasing local goods and services?

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