Which of the following refers to products purchased by businesses for use in their operations?

The term that best refers to products purchased by businesses for use in their operations is "Capital Products." These are assets that businesses acquire to produce goods or services, as well as to support their day-to-day activities. Capital products typically include machinery, equipment, and facilities that are necessary for the business to function effectively and generate revenue.

In contrast, consumer products are items bought by end-users for personal use, rather than for business operations. Operating expenses refer to the costs incurred in the day-to-day functioning of a business, like rent or utilities, rather than the capital goods being purchased. A business-format franchise involves a business model where the franchisee operates under the brand and business practices of the franchisor, and is not about the products purchased for operational use.

By correctly identifying "Capital Products," one comprehends the distinction between assets that contribute to business operations and other related terms that serve different contexts in business operations.