Consumers Are Less Price Sensitive When ________

question 111

Multiple Choice

Consumers are less price sensitive when ________.

• A) price is only a small part of the total cost spent on the product over its lifetime
• B) they perceive the higher prices to be unjustified
• C) they change their buying habits regularly
• D) there are many substitutes and competitors in the market
• E) they are buying high-cost items

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Definitions:

Barbiturates

A class of drugs that act as central nervous system depressants, used as sedatives, hypnotics, and anticonvulsants but have a high potential for abuse and addiction.

Benzodiazepines

A class of psychoactive drugs known for their calming effect, commonly prescribed for anxiety, seizures, and insomnia.

Central Nervous System

The part of the nervous system consisting of the brain and spinal cord, responsible for processing and sending out information.

Tolerance

The need of a person for increased amounts of an addictive substance to achieve the desired effect.