The Demand Curve Is Downward-Sloping Because of the Law of

question 24

Multiple Choice

The demand curve is downward-sloping because of the law of

• A) diminishing marginal utility.
• B) diminishing consumer equilibrium.
• C) consumer equilibrium.
• D) diminishing utility maximization.

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Definitions:

Sales Plan Formulation

The process of defining strategies, tactics, sales targets, and actions to achieve the sales goals of a business.

Postpurchase Evaluation

The assessment by consumers of their level of satisfaction or dissatisfaction with a product after they have bought and used it.

Personal Selling Process

Involves a series of steps that a salesperson follows to persuade a prospective buyer to make a purchase, including prospecting, approaching, presenting, handling objections, closing, and follow-up.

Customer Satisfaction

A measure of how products or services provided by a company meet or surpass customer expectation.