Consumers Are More Likely to Perceive the Value of a Product

question 16

Multiple Choice

Consumers are more likely to perceive the value of a product to be less than its cost if:

• A)the product's price is set too high in their minds.
• B)the product's manufacturer gains very little profit from the product.
• C)the product has an inelastic demand.
• D)the product's demand and supply attain the state of price equilibrium.

---

Definitions:

Conflict Theory

Conflict Theory is a framework for understanding society that emphasizes the social, political, or material inequality of social groups, arguing that these conflicts drive social change.

Women's Exploitation

The unfair treatment and abuse of women in various contexts, often highlighting gender inequalities in workplace, domestic, and societal spheres.

Capitalism

An economic system based on private ownership of the means of production and their operation for profit.

Human Capital Theory

A theory in economics that views individuals' skills and education as a form of capital and suggests that investments in education and training enhance productivity and earnings.