The Demand for _______ Is More Elastic Than the Demand

question 53

Multiple Choice

The demand for _______ is more elastic than the demand for _______.

• A) chewing gum; cars
• B) all personal computers; Dell computers
• C) food; exotic vacations
• D) Pepsi; all soft beverages

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Definitions:

Selected Markets

Specified segments of the broader market that a company chooses to target for its marketing efforts, products, or services.

Direct Exporting

The sale of products directly to customers or retailers in another country, without the involvement of intermediaries.

Increased Profits

A rise in the amount of net earnings gained from business operations after all costs have been subtracted.

Indirect Exporting

A form of exporting where a company sells its products to a third party, such as an export intermediary, who then sells the products in foreign markets.