Which of the Following Products Would Most Consumers Classify as a Shopping

question 66

Multiple Choice

Which of the following products would most consumers classify as a shopping product?

• A)a subscription to a the Wall Street Journal
• B)a winter coat
• C)a box of adhesive bandages
• D)a can of soup
• E)a pack of gum

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Definitions:

Equilibrium Price

The price in the market where the amount of goods available matches the amount of goods people want to buy.

Supply

The aggregate quantity of a product or service that can be bought at a specific price point within a particular market.

Demand

The quantity of a product or service that consumers are willing and able to purchase at a given price.

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