Consumers Are Less Price Sensitive ________

question 103

Multiple Choice

Consumers are less price sensitive ________.

• A) to high cost items
• B) when they frequently change their buying habits
• C) when there are more substitutes
• D) when there are more competitors
• E) when they do not readily notice higher prices

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Definitions:

Distributor

An entity that buys products in bulk from manufacturers and sells them to retailers or directly to consumers.

Foreign Market

A marketplace outside a company's home country where it can engage in trade or investment, offering opportunities for growth but also posing challenges like cultural and legal differences.

Resale

The act of selling a product or property previously purchased, often used goods or properties, in various markets or channels.

Dispute Settlement Understanding

An agreement that is part of the WTO system whereby recognized governments of WTO member states may bring an action alleging a violation of GATT by other member states.