Which of the Following Statements Is True of Convenience Products

question 61

Multiple Choice

Which of the following statements is true of convenience products?

• A) A consumer is unwilling to shop extensively for convenience products.
• B) These are products that are perceived to have similar features.
• C) A consumer is unwilling to accept other substitutes for convenience products.
• D) These are products that are not actively sought after by consumers.

---

Definitions:

Agency Relationship

A legal relationship between two parties, where one (the agent) is authorized to act on behalf of the other (the principal) in legal or business dealings.

Specific Power

Authority granted to an individual or body to carry out specific actions in a designated context or situation.

Agency Agreement

A legal contract creating a fiduciary relationship which empowers an agent to act on behalf of a principal in transactions.

Apparent Agency

A legal concept where a principal is liable for the acts of their agent, based on the appearance of authority the agent has been given, even if no actual authority was given.