"It is a set of tangible and physical attributes such as material, colour, design, size, weight, etc., assembled in an identifiable form that a seller offers to customers for sale." What is it?

1. Service
2. Price
3. Product
4. Place

If a business is focusing on selling products directly to consumers without the involvement of intermediaries, which type of market would they most likely be operating in?

1. Producers' Market
2. Network Market
3. Retail Market
4. Wholesale Market

What is the basic property of a service which makes it different from a product?

1. Shape
2. Size
3. Very expensive
4. Intangibility

In the Production-Oriented Stage, businesses operated on the assumption that supply would create its own demand.

1. True
2. False