Which of the Following Statements Is True About the Current

question 43

Multiple Choice

Which of the following statements is true about the current consumers in the United States?

• A)They emphasize price more than product quality.
• B)They seldom register brand names.
• C)They give importance to durability of products.
• D)They tend to choose products that are expensive.

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Definitions:

Import

The act of bringing goods or services into one country from another for the purpose of sale.

Compasses

Instruments used for navigation and orientation that show direction relative to the geographic cardinal directions (North, South, East, and West).

Absolute Advantage

The ability of an individual, company, or country to produce a good or service more efficiently than others with the same resources.

Gain From Trade

The benefit that arises from efficient allocation of resources, allowing parties involved to obtain goods or services they desire at a lower opportunity cost.