In Which of the Following Cases Will the Total Spending

question 208

Multiple Choice

In which of the following cases will the total spending on a good decrease?

• A) Demand is inelastic, and price increases.
• B) Demand is elastic, and price increases.
• C) Demand is elastic, and price decreases.
• D) Demand is of unit elasticity, and price decreases.

Understand the strategies for marketing and selling to businesses.

Recognize the ethical standards and practices within organizational buying and selling.

Understand the impact of collective decision-making processes on B2B transactions.

Analyze the role of digital tools and social networks in B2B marketing and networking.

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Definitions:

Consumption

The use of goods and services by households, constituting a primary component of economic activity.

Disposable Income

Funds permissible for households' usage in saving and spending post the accounting of income taxes.

Disposable Income

The net income available to households or individuals after accounting for taxes, which can be spent on consumption or savings.

Consumption

The use of goods and services by households, one of the primary components that determine the overall level of economic activity in an economy.