Which of the following terms identifies materials whose price is set by market supply and demand?
A) Commodities
B) Standard products
C) Items of small value
D) Made-to-order items

Question

Quizplus · Accepted Answer

Commodities are materials whose price is determined by market supply and demand. These include raw materials such as metals, agricultural products, and energy sources. Prices fluctuate based on global economic conditions, weather patterns, and geopolitical events. Standard products, items of small value, and made-to-order items may also have market-driven pricing to some extent, but are not primarily characterized as commodities.

Which of the Following Terms Identifies Materials Whose Price Is