1.1 What is a Product?

The following is the definition of:  What is a Product?

A commodity, trade, good or a service is a Product when it:

  1. is marketed on The Open Market (open to all on equal terms,)
  2. is needed and wanted and
  3. does not harm the economic well being and prosperity of the individual, family, organizations,  society, nation, mankind and  environments.   Or it can be stated by saying, “a good or a service is a Product if it assists in the economic well being and prosperity of the individual, family, organizations, society, nation, mankind and environments.”
Producer Rewarded Open Market Economics
The Science of Economics
By: R P Obrigewitsch
February, 27, 2011

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Sunday, February 27th, 2011 Producer Rewarded Economics

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