Of the Following, Demand Is Likely to Be the Least

question 304

Multiple Choice

Of the following, demand is likely to be the least elastic for

• A) Ford automobiles.
• B) Toyota automobiles.
• C) compact disc players.
• D) toothpicks.

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Definitions:

Sweepstakes

A promotional strategy that involves giving away prizes to randomly selected participants, often used to attract attention or gather consumer data.

Viral Marketing

A marketing technique that uses social networks to increase brand awareness or achieve other marketing objectives through a self-replicating viral process, akin to the spread of viruses.

Embed a Message

To incorporate a message within another medium so that it is seamlessly integrated and possibly subconscious to the receiver.

Product or Service

Any item or activity offered by a company to fulfill a need or desire of consumers, including tangible goods or intangible experiences.