Milk is considered a commodity because it is which of the following?
A. bought in many different ways
B. an inexpensive product
C. the same no matter who sells it
D. an agricultural product
I think C..?
C is right.
To determine the correct answer, let's analyze the given options:
A. Bought in many different ways: This option is not the primary reason for milk being considered a commodity. While milk can be bought in different forms such as whole, skim, or flavored, this characteristic alone does not classify it as a commodity.
B. An inexpensive product: While milk is often considered a basic and affordable product, its price alone does not determine whether it is a commodity or not.
C. The same no matter who sells it: This option is the main reason milk is considered a commodity. Commodity refers to a basic good that is uniform and interchangeable, regardless of the producer or seller. Milk, in its standard form, has consistent characteristics such as fat content and nutritional composition, making it the same regardless of who sells it.
D. An agricultural product: While milk is indeed an agricultural product, this doesn't directly address why it is considered a commodity.
Therefore, the correct answer is C. Milk is considered a commodity because it is the same no matter who sells it.