When Frank Buys His Own House, He Would Like to Have

question 48

Multiple Choice

When Frank buys his own house, he would like to have a home theater system and a jacuzzi. He plans to save enough money in the next three years so that he can fulfill his wish. Frank's desire for the home theater and the jacuzzi is an example of a(n) ________.

• A) need
• B) want
• C) demand
• D) unstated need
• E) latent demand

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Definitions:

Guarantees

Commitments or assurances provided to ensure satisfaction with a product or service, emphasizing the provider's confidence in meeting specified standards.

Value for Money

The measure of something's worth or utility compared to its cost.

Overcome Resistance

The process of addressing and mitigating objections or reluctance in order to persuade or achieve cooperation.

Price

The amount of money expected, required, or given in payment for something.