The Value of a Product to Its Consumers Tends to Be

question 9

True/False

The value of a product to its consumers tends to be reduced by availability of close substitutes.Similarly,the value if a product to its consumers is reduced by the availability of complements.

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Definitions:

Cause-and-effect

The principle that an action or event will produce a certain response or outcome in the natural or human-made world.

Correlational Data

Data used to measure and describe the degree to which two or more variables are related, without inferring a cause-and-effect relationship.

Surgeon General

The leading spokesperson on matters of public health in the federal government of a country, often heading a specific governmental public health agency.

Dependent Variable

In research, it's the variable that is tested and measured, often to see the effects of variations in the independent variable.