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:

Bits

The smallest unit of data in computing represented by a binary digit, either 0 or 1, used to encode digital information.

Word

Word refers to Microsoft Word, a widely used word processing software developed by Microsoft, or can simply mean a single distinct meaningful element of speech or writing.

Bit

The smallest unit of data in computing, representing a single binary value of either 0 or 1.

Representation

In computing, the use of symbols, signs, or codes to stand for or depict data and instructions to be used in processes or communication.