The Reason a Brand Name Item (E

question 20

Multiple Choice

The reason a brand name item (e.g. ,Molson) has a larger price elasticity than the item class (e.g. ,beer) ,is that

• A) there are fewer substitutes for Molson.
• B) there is more time for adjustments to be made for Molson.
• C) beer's share of income is larger than Molson's.
• D) there are fewer substitutes for beer.
• E) wine is a better substitute for beer than Labatt is for Molson.

---

Definitions:

Security Agreement

A legal document that grants a lender a security interest in a specified asset or property, which serves as collateral for a loan.

Secured Perfected Creditor

A creditor who has taken the necessary legal steps to ensure their claim against a debtor's collateral is enforceable against other creditors.

After-Acquired Property

Property or assets that a debtor obtains after signing a contract that pledges all of the debtor's current and future assets as collateral for a loan.

Financing Statement

A document filed to give public notice to secured creditors about a debtor’s assets used as collateral, typically in connection with securing a loan.