Hide and Seek Has Retail Outlets at Both Large Malls

question 92

Multiple Choice

Hide and Seek has retail outlets at both large malls and small shopping centres. Its accounting information system is able to track total revenues by store, by type of mall, by size of store, by state and by region. This is an example of which feature of a good information accounting system?

• A)compatibility
• B)flexibility
• C)favourable cost- benefit relationship
• D)control

---

Definitions:

Inferior Good

An inferior good is one where demand decreases as the income of the consumer increases, opposed to a normal good where demand increases with an increase in income.

Price Elasticity

A determination of how price fluctuations affect the demand level for a good.

Demand Coefficient

A numerical measure of the sensitivity of demand for a good or service to a change in one of its determinants, such as price, income, or the price of related goods.

Buyer Responsiveness

THe degree to which consumers change their demand for a product or service in response to changes in its price or attributes.