If Pedigree Offered You a Position in Which You Would

question 140

Multiple Choice

If Pedigree offered you a position in which you would have total marketing responsibility for all of its canned dog food, this position would probably hold the title of ____ manager.

• A)brand
• B)area
• C)product
• D)sales
• E)marketing

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Definitions:

Inferior Good

A type of good for which demand decreases as the income of consumers increases, conversely, demand increases when consumer income decreases.

Cross Elasticity

Cross elasticity of demand quantifies how the demand for a good or service is affected by the price change of another related good, reflecting their substitutability or complementarity.

Complements

Goods or services that are used together, where the use of one increases the demand for the other.

Substitutes

Goods or services that can be used in place of each other; as the price of one increases, the demand for the other increases.