Sometimes a Rise of Only 10% in Consumer Demand Can

question 20

Multiple Choice

Sometimes a rise of only 10% in consumer demand can cause as much as a 200% rise in business demand for products for the next period. This is an example of ________.

• A) inelastic demand
• B) direct purchasing
• C) fluctuating demand
• D) derived demand
• E) a straight rebuy

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Definitions:

Central Tendency

A measure that represents the center or typical value of a dataset, commonly identified through the mean, median, or mode.

Standard Deviation

A measure that describes the amount of variation or dispersion of a set of values from the mean, indicating the spread or variability of the data.

Mean

Calculated by dividing the total of the numbers by their quantity, the average represents the mean value of a set.

Median

The middle value in an ordered list of numbers, effectively dividing the dataset into two halves.