Question

Which of the following best defines the term commodity? a. A physical object we find, grow, or make to meet our needs and those of others. b. An activity that benefits people, such as health care, education, and entertainment. c. An economic system which adheres to the principles of socialism. d. A benefit given to those who participate in the capitalist market.

Answer 1

Answer: A physical object we find, grow, or make to meet our needs and those of others.

Explanation: A commodity is an object that possesses a certain form of value, it can be used to meet an immediate need of a person.

It can be grown or produced to meet the specified needed requirements of the particular need it solves.