Three Product Constraints That Influence a Retailer's Product Decisions Are

question 15

Multiple Choice

Three product constraints that influence a retailer's product decisions are:

• A) product safety, express warranties, and implied warranties.
• B) product safety, trademarks, and warranties.
• C) product safety, product liability, and warranties.
• D) product liabilities, warranties, and trademarks.
• E) trademarks, product liabilities, product safety

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Definitions:

Complementary Good

A complementary good is a product or service that adds value to another product or service when both are used together, leading to an increase in demand for one when the price of the other decreases.

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.