A good, service, or idea consisting of a bundle of tangible and intangible attributes that satisfies consumers' needs and is received in exchange for money or something else of value is referred to as: 1. merchandise. 2. an idea. 3. a product. 4. a utility bundle. 5. a service.

A product

Explanation:

A product is an item( goods or services) that is provided in the market to satisfy the needs and wants of potential customers.

Products are classified into two types:

- Consumer products.

- Industrial products.

Consumer products are the products that are purchased by a consumer to satisfy his or her personal needs. Examples of consumer products include soap, cream, toothpaste.

Industrial products are products that are utilized as input for the production of other products. They are not directly consumed. Example of industrial products are raw materials, machines.

3) a product.

Explanation:

The main difference between a product (good) and a service, is that a product must have something tangible. Most products nowadays are not sold alone, they usually include services, e.g. free delivery, customer service, etc.

Products are divided into two main categories:

When compared to services, products are tangible, services are intangible, e.g. a phone is a product, a telephone line is a service. Products can be stocked while services cannot, e.g. a hotel room not used today, can only be rented once tomorrow, not twice. Products exist independently of their users while services exist only when they are being provided.