Goods and services or 'anything of value' which is offered to the market for sale is knowns as-
Answer & explanation
Correct answer: option 3
The correct answer is Option (3) → Product
Product means goods or services or ‘anything of value’, which is offered to the market for sale. For example, Hindustan lever offers number of consumer products like toiletries (Close-Up toothpaste, Lifebuoy soap, etc.), detergent powder (Surf, Wheel), food products (Refined Vegetable Oil); Tata offers Tata Steel, Trucks, Salt and a large number of other products; LG electronics offers televisions, refrigerators, colour monitors for computers, etc; Amul offers a number of food products (Amul milk, ghee, butter, cheese, chocolates, etc.).