Question

The founders of life is good started their business by hawking​ t-shirts on the street and selling them door to door in college towns. as the organization​ grew, the number of different lines of products it offered​ grew, too.​ collectively, these assorted product lines might be described as life is​ good's __________.

Answer 1

I would say the correct answer would be merchandise assortment since the Life is Good company now provides other products presumably related to clothing but not necessarily clothing per se and could entail such things as belts, suspenders, shoes etc. 

Answer 2

I believe the answer is: product mix

Product mix refers to the total variety of product that offered by a certain company which collectively become one big pool of income.
The creation of product mix is aimed to reach the market segmentation that hasn't been reached by the previous product.