Small Changes in Consumer Demand Can Lead to Considerable Shifts

question 33

Multiple Choice

Small changes in consumer demand can lead to considerable shifts in business product demand and are referred to as the ________.

• A) transactional effect
• B) transverse effect
• C) degree of affiliation
• D) acceleration effect
• E) multi-attribute model

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Definitions:

Start-Up Process

The series of steps undertaken by entrepreneurs to establish a business, which includes ideation, market research, planning, funding, and launching operations.

Maturity

The stage in life or condition when development is complete and stable, often associated with full growth or an ability to reproduce.

Relative Certainty

The degree of confidence or assurance one has regarding the occurrence of an event or the truth of a statement, often compared to other scenarios or information.

Licensing Agreement

An agreement in which the owner of intellectual property grants another person (or another company) permission to produce that product.