Which of the Following Is a Source of Information That

question 78

Multiple Choice

Which of the following is a source of information that helps consumers acquire information about the quality of a good or service?

• A) brand names
• B) franchising
• C) consumer ratings magazines
• D) all of the above

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Definitions:

Shortage

A situation in an economy where the demand for a product or service exceeds the supply available at a specific price.

Equilibrium Price

The financial value where the availability of goods equals consumer demand.

Demand Falls

Demand falls occur when there is a decrease in the quantity of a good or service demanded at any given price, often due to changes in consumer preferences, income, or price increases.

Supply Stays

A term that is not typically used in economic contexts; thus, it might not be a real key-term. NO.