Price Elasticity of Demand Is Determined by a Number of Factors,such

question 272

Multiple Choice

Price elasticity of demand is determined by a number of factors,such as the necessity of the product or service,the cash outlay of purchase relative to a person's disposable income,and

• A)the stage of the product or service in its product life cycle.
• B)the degree of carrying costs for the manufacturer or distributor.
• C)the availability of substitutes.
• D)the financial resources of the organization itself.
• E)the ability of the organization to meet sudden increases in demand.

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Definitions:

Discriminant Validity

A measure of the degree to which a test or tool is capable of distinguishing between different constructs or phenomena.

Construct Validity

The extent to which a test accurately measures the theoretical, non-observable construct or trait it is intended to assess.

Correlation

A statistical measure that describes the extent to which two variables change together.

Concurrent Validity

Refers to the extent to which the results of a particular test or measurement correspond to those of a previously established measurement for the same construct.