Why Are Prestige Products Often an Exception to the Law

question 46

Multiple Choice

Why are prestige products often an exception to the law of demand?

• A) The demand curve for prestige products slopes downward and to the right.
• B) Increasing the price of prestige products can make them seem more desirable.
• C) Demand for prestige products often is greater than supply.
• D) Prestige products such as diamonds, sapphires, and emeralds are nonrenewable resources.
• E) Customers are more aware of any price changes to prestige products.

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Definitions:

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A business approach that contributes to sustainable development by delivering economic, social, and environmental benefits for all stakeholders.

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