Which of the Following Items Has the Largest Price Elasticity

question 71

Multiple Choice

Which of the following items has the largest price elasticity of demand?

• A) food
• B) fruit
• C) oranges
• D) oranges from a Wal-Mart SuperCenter

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Definitions:

Need-satisfaction

A sales approach that focuses on identifying and meeting the specific needs of a customer, emphasizing the benefits of a product or service that can meet those needs.

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Innovative tools and devices designed to enhance live performances through special effects, automation, and advanced sound and lighting.

Modular Production

A manufacturing approach that involves producing components or modules in separate units, which can then be easily combined or assembled into a final product.

Need-satisfaction

The process of fulfilling or satisfying the requirements or desires of consumers or clients.