With Respect to Price and Availability, Shopping Products Are Likely

question 199

Multiple Choice

With respect to price and availability, shopping products are likely to be

• A) relatively inexpensive and widely available.
• B) relatively inexpensive but very limited availability.
• C) very expensive and available at a large number of selective outlets.
• D) very expensive with very limited availability.
• E) fairly expensive and available at a large number of selective outlets.

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Definitions:

Inflation Rate

The percentage rate at which the general level of prices for goods and services is rising, and subsequently, purchasing power is falling, over a given period of time.

Purchasing Power

the value of currency expressed in terms of the amount of goods or services that one unit of money can buy.

Inflation

The rate at which the general level of prices for goods and services rises, eroding purchasing power.

Business Managers

Professionals responsible for planning, directing, and overseeing operations and employees within companies.