Jacob's teacher gives each member of the class a definition for a type of good and asked them to figure out the best key term that matches their definition. Jacob's definition states, "Usually requires more planning and thought during the purchasing process and includes clothing, electronics, and furniture." What does he select as his key term?
(1 point)
• Unsought goods
• Manufacturing goods
O Convenience goods
• Shopping goods
Jacob would most likely select "Shopping goods" as his key term, as the definition given describes goods that usually require more planning and thought during the purchasing process, which aligns with the concept of shopping goods.
Based on Jacob's definition, he will select the key term "Shopping goods."
To find the answer to this question, we need to understand the definition given by Jacob's teacher. The definition mentions that this type of good usually requires more planning and thought during the purchasing process and includes clothing, electronics, and furniture.
Now, let's look at the options given:
- Unsought goods: Unsought goods refer to products that consumers do not actively seek out or think about purchasing. Examples include life insurance or burial plots, which people don't typically plan to buy.
- Manufacturing goods: Manufacturing goods are items used in the production process of other goods, such as raw materials or machinery. They are not directly related to the purchasing process described in Jacob's definition.
- Convenience goods: Convenience goods are products that customers frequently buy with minimal effort. These are usually everyday items that consumers often need on short notice, like bread or toothpaste. However, they don't require much planning or thought during the purchasing process, which contradicts Jacob's definition.
- Shopping goods: Shopping goods are items that consumers compare and evaluate before making a purchase decision. They often require more planning and thought during the purchasing process, as mentioned in Jacob's definition. Examples of shopping goods include clothing, electronics, and furniture – exactly what is mentioned in the definition.
Based on the information provided, Jacob is likely to select "Shopping goods" as his key term, as it matches the definition of goods that require more planning and thought during the purchasing process and includes clothing, electronics, and furniture.