When Estimating Demand, Price Is Not the Only Factor to Be

question 90

Multiple Choice

When estimating demand, price is not the only factor to be considered. Three other elements are emphasized by economists, one of which is

• A) consumer tastes.
• B) legislative changes.
• C) size of the target market.
• D) current political stability.
• E) promotional methods.

Calculate firm's profit or loss based on cost data and market prices.

Identify the factors leading to changes in the industry supply curve.

Understand the concept of zones of proximal development and its significance in child development.

Recognize the factors influencing a child's perception of friendship at different ages.

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Definitions:

Financial

Pertaining to money or finance, involving the management, investment, and study of money and financial systems.

Personal

Pertaining to or affecting a particular person rather than anyone else, often implying a private or intimate aspect.

Societal

Relating to or concerned with the structure, organization, and functioning of human society.

Aesthetic

Pertaining to the appreciation or critique of beauty or good taste, often used in design, art, and culture.