Which of the following is the best example of a standardized product? laptop high Heels ham sandwich soybeans  

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In this case, a laptop is the best example of a standardized product. There are many different brands of laptops, but they all perform the same function. Additionally, all laptops have standardized features, such as a screen and a keyboard. Except for the Mac laptop, most of these machines run on a Windows operating system. Also, all laptops have a standard bag used to store and carry them. A new trend that is coming up is installing interactive or touch screens in laptops. There is also fingerprint scanning as an added security feature for logging in.

The reason why high heels, ham sandwiches, and soybeans are not the best option is that they can be marketed using different names and packaged differently. In other words, there is no 'one size fits all' approach for these goods.

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The term “standardized product” can be used to refer to homogeneous products such as are produced by firms in perfect competition.  These are products that are all the same; where no firm’s product can really be differentiated from any other.  Of the choices given, soybeans are the best example of such a product.

All of the other products can easily be different from one another.  Laptops have different features and capacities.  High heels come in many different styles.  Ham sandwiches have things like different condiments and different breads that make them different.  By contrast, one soybean of a certain quality is just the same as any other.  One farmer’s soybeans are no different than another’s.

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