Mobile Devices Provide Four Types of Value to Users

question 65

Multiple Choice

Mobile devices provide four types of value to users. ________ value describes the characteristic that mobile devices make consumers feel good and relaxed when using the device.

• A) Monetary
• B) Hedonic
• C) Convenience
• D) Emotional
• E) Social

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Definitions:

Price Elasticity

A measure of the sensitivity of quantity demanded or supplied to changes in price, indicating how a price change can affect market equilibrium.

Quantity Demanded

The total amount of a good or service that consumers are willing and able to purchase at a given price level at any given time.

Total Revenue

The overall amount of money generated by a business from its sales activities before any expenses are subtracted.

Total Revenue

The total income received by a firm from the sale of goods or services before any expenses are deducted.