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Question
In case of a standardised product, each unit of product is a perfect substitute for others it is impossible to differentiate one unit from other unit. Which types of products is this?
Options
Homogeneous
Heterogeneous
Perishable
Tangible
Solution
Homogeneous
Explanation:
Homogeneous products are identical in nature and have no differentiation between units. Examples include basic commodities like grains, metals, and other raw materials; each unit is essentially the same as any other unit.
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