Which of the Following Is a Demographic Factor That Influences

question 73

Multiple Choice

Which of the following is a demographic factor that influences the pricing decision of a product?

• A) Buyers use price as an indicator of product quality.
• B) Will potential buyers be favorably attracted by odd pricing?
• C) Are buyers willing to pay higher prices for quality products?
• D) Expected consumption rates of potential buyers.

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Definitions:

Strict Liability

A legal doctrine holding an individual or entity liable for damages without the need to prove negligence or fault.

Design Defect

A flaw in the planning or design of a product that results in it being unsafe for its intended use.

Proof Required

A stipulation that demands evidence or substantiation to support a claim or assertion.

State Law

Law established by each state in the United States, governing within its own territory and subject to the federal constitution.