A Buying Intentions Survey Is Used to Gauge Customer Interest

question 71

True/False

A buying intentions survey is used to gauge customer interest in a product or service.

---

Definitions:

Fewer Units

A scenario where a smaller quantity of a product is being produced, stocked, or sold, possibly due to lower demand or strategic decision-making.

Given Price

A specified cost at which a product or service is offered to consumers.

Inelastic Demand

A situation where the demand for a product does not significantly change with a change in price.

Quantity Demanded

The total amount of a good or service that consumers are willing and able to purchase at a specific price level, within a specified time period.