John Is Starting a Sole Proprietorship in Which He Will

question 43

Multiple Choice

John is starting a sole proprietorship in which he will install home stereo systems.John decides to test a paid Google ad so that the name of his company will gain recognition.This is an example of what marketing mix element?

• A)product
• B)promotion
• C)place
• D)advertising

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Definitions:

Transitory Income

Income that is temporary or not expected to continue at the same level in the future, often affecting consumer behavior and economic decisions.

Permanent Income

An individual's average lifetime income, estimated as a constant amount that would maintain the consumer's current standard of living.

Life-Cycle Income

The total income an individual expects to earn over their lifetime.

Poverty Category

A classification for individuals or families whose income falls below a certain threshold, making it difficult to meet basic living expenses.