In Stores,it Is Common to Find Seasonal Products Marked Down

question 117

Multiple Choice

In stores,it is common to find seasonal products marked down when the season ends.What explains this behaviour?

• A)The store is trying to sell the goods and realises that they are substitutes for other goods whose prices have risen.
• B)The store is trying to increase its consumers' incomes by increasing their purchasing power.
• C)The law of demand is being used to increase the quantity demanded.
• D)The store is trying to increase its customers' demand for the product.
• E)The store manager must be trying to drive away customers by selling low quality products.

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Definitions:

Demand Curve

A graphical representation showing the relationship between the price of a good and the quantity demanded by consumers at various price levels.

Normal Good

A type of good for which demand increases as the income of the consumer increases, reflecting a direct relationship between income and demand.

Inferior Good

A type of good whose demand decreases as the consumer's income increases, opposite to normal goods.

Complementary Good

A product or service that enhances the use or value of another product or service when used together.