Examveda
Examveda

A situation where there are no differences among products or services, and the only basis of choosing products is price is known as _________.

A. a value web

B. value chain

C. profit

D. commoditization

Answer: Option D

Solution(By Examveda Team)

A situation where there are no differences among products or services, and the only basis of choosing products is price is known as commoditization. Commoditization refers to the process of making something into a commodity. A commodity is a fundamental good used in commerce that is interchangeable with other commodities of the same type.

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