Which of the Following Factors Will Make the Demand for a Product

question 277

Multiple Choice

Which of the following factors will make the demand for a product relatively elastic?

• A)There are few substitutes.
• B)The time interval considered is long.
• C)The good is considered a necessity.
• D)Purchases of the good require a small portion of consumers' budgets.

Explain the significance of erogenous zones in Freud's theory of psychosexual development.

Understand the role of factor analysis in personality psychology.

Recognize the importance of early childhood experiences in shaping adult personality.

Identify the characteristics of personality traits and their measurement.

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Definitions:

Freight In

The cost associated with transporting goods into a business, typically included in the cost of goods sold calculation.

Gross Profit

The financial gain obtained after subtracting the cost of goods sold from the revenue generated from sales.

Closing Entries

Journal entries made at the end of an accounting period to transfer the balances of temporary accounts to permanent accounts, preparing the accounts for the next period.

Merchandising Business

A type of business that purchases goods and sells them to consumers without changing their form.