During the Recession of 2007-2009,several Casual Dining Restaurants Experienced a Drop

question 82

Multiple Choice

During the recession of 2007-2009,several casual dining restaurants experienced a drop in business as many consumers chose to become more in spending their declining incomes.The decrease in demand due to falling income indicates that meals sold in casual restaurants are considered

• A) normal goods.
• B) inferior goods.
• C) complementary goods.
• D) substitute goods.

---

Definitions:

Brand Equity

The value and strength of a brand that determines its worth, based on the consumer’s perception, recognition, and loyalty.

Franchisers

Businesses that allow individuals or entities (franchisees) to operate a branch of their company, using the brand and business model, in exchange for fees or a share of the profits.