Fundamentally, goods and services can be categorized as which of the following
i. necessities
ii. Luxuries
Iii. happiness
A) i and ii
B) ii and iii
C) i, ii, and iii
D) none of the above

Question

Quizplus · Accepted Answer

Goods and services can be primarily categorized as necessities or luxuries based on their importance and level of urgency. The third option, happiness, is not a broad enough category to encompass all goods and services. Therefore, option A, i and ii, is the best choice.

Fundamentally, Goods and Services Can Be Categorized as Which of the Following