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Product classification or product taxonomy is a type of economic taxonomy which organizes products for a variety of purposes. However, not only products can be referred to in a standardized way but also sales practices in form of the “Incoterms” and industries can be classified into categories. [1] Some standard product classifications include:
An economic taxonomy is a system of classification of economic activity, including products, companies and industries. Some economists believe that the study of economic policy demands the use of a taxonomic/classificatory approach.
The value of an ecosystem can be distinguished as: Use value — Can be split into Direct and Indirect use values: Direct use value: Obtained through a removable product in nature (i.e., timber, fish, water). Indirect use value: Obtained through a non-removable product in nature (i.e., sunset, waterfall).
In an unregulated market, prices of credence goods tend to converge, i.e. the same flat rate is charged for high and low value goods. The reason is that suppliers of credence goods tend to overcharge for low value goods, since the customers are not aware of the low value, while competitive pressures force down the price of high value goods. [6]
The Nice Classification is based on a multilateral treaty administered by WIPO. This treaty, consummated on 15 June 1957 in Nice, France, is called the "Nice Agreement Concerning the International Classification of Goods and Services for the Purposes of the Registration of Marks". This Classification is commonly referred to as the "Nice ...
Product classifications (2 C, 17 P) Pages in category "Economic taxonomy" The following 7 pages are in this category, out of 7 total.
Pages in category "Product classifications" The following 17 pages are in this category, out of 17 total. This list may not reflect recent changes. ...
Pragmatic classification (and functional [40] and teleological classification) is the classification of items which emphasis the goals, purposes, consequences, [41] interests, values and politics of classification. It is, for example, classifying animals into wild animals, pests, domesticated animals and pets.