In an Attempt to Take Advantage of Impulsive or Less

question 68

Multiple Choice

In an attempt to take advantage of impulsive or less sophisticated buyers,heat merchants use to deceive customers.

• A)mobile phone marketing
• B)telephone marketing
• C)direct- response television marketing
• D)direct- mail marketing
• E)kiosk marketing

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Definitions:

Price Floor

A minimum price set by the government for certain goods and services that cannot legally be lowered, often above the equilibrium price.

Market Supply

Market supply represents the total quantity of a particular good or service that all producers are willing and able to sell at different price levels in a given period.

Producer Surplus

The difference between the amount that a producer is paid for a good or service and the lowest amount they are willing to accept for that good or service.

Consumer Surplus

The gap between the price consumers are prepared to pay and the actual price they pay for a product or service, signifying the advantage received by consumers.