Demand Factors Are Factors That Determine

question 50

Multiple Choice

Demand factors are factors that determine:

• A)the number of consumers who want to purchase a product.
• B)consumers' willingness and ability to pay for goods and services.
• C)the price that should be charged for a given product.
• D)the number of consumers who can afford to purchase a product or service.

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Definitions:

Positive Correlation

A statistical relationship between two variables where both variables move in the same direction.

Intelligence and Academic Success

Refers to the theoretical link suggesting that higher levels of intelligence may contribute positively to one's performance in academic settings.

Correlation Coefficient

A statistical index of the relationship between two things (from -1.00 to +1.00).

Intelligence

The ability to acquire and apply knowledge and skills, encompassing problem-solving, learning from experience, and adapting to new situations.