When Estimating Demand, Price Is Not the Only Factor to Be

question 90

Multiple Choice

When estimating demand, price is not the only factor to be considered. Three other elements are emphasized by economists, one of which is

• A) consumer tastes.
• B) legislative changes.
• C) size of the target market.
• D) current political stability.
• E) promotional methods.

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Definitions:

Stuart And Revett

British architects known for their detailed studies and drawings of ancient Greek architecture, contributing significantly to the Neoclassical movement.

Ancient Architecture

Architectural practices and structures from historical civilizations before the Middle Ages, often characterized by innovative forms and techniques.

Greece

A country in southeastern Europe known for its rich history, contribution to Western civilization, and numerous islands.

Greenough

Refers to Horatio Greenough, an American neoclassical sculptor famous for his sculptures and writings in the early 19th century.