Which of the Following Buyers Would Have the Greatest Ability

question 103

Multiple Choice

Which of the following buyers would have the greatest ability to influence suppliers?

• A) A student ordering a pizza
• B) A student selecting a college or university.
• C) A department store influencing fashion designers
• D) Government negotiating the purchase of a helicopter for its army
• E) Homemaker buying groceries at the supermarket

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Definitions:

Demand

The amount of a product or service that buyers are prepared and capable of buying at different price levels over a specific time frame.

Income

Earnings acquired on a consistent basis through employment or investments.

Quantity Demanded

The total amount of a good or service that consumers are willing and able to purchase at a given price within a specific time period.

Quantity Supplied

The amount of a good or service that producers are willing and able to sell at a specific price, over a specified period of time.