When a Retailer Advertises a Product and Makes It Available

question 199

Multiple Choice

When a retailer advertises a product and makes it available for purchase through telephone or mail orders, the retailer is using

• A) direct selling.
• B) television home shopping.
• C) telemarketing.
• D) automatic vending.
• E) direct-response marketing.

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Definitions:

Going Price

The current market rate at which a particular good, service, or commodity can be bought or sold.

Market

A system or arena in which commercial dealings are conducted, or where supply meets demand.

Equilibrium Quantity

The level of output at which demand and supply in the market balance perfectly, setting the stage for stable prices unless external factors intervene.

Demand Schedule

A table or graph showing the quantity of a good that consumers are willing to purchase at various prices.