To Think at the Margin Means to Consider

question 54

Multiple Choice

To think at the margin means to consider

• A) how nothing remains constant over time.
• B) how a small change in one variable affects another variable.
• C) how people behave in their own self-interest.
• D) how people will decide what to purchase.

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Definitions:

Discretionary Product

A non-essential good or service purchased with disposable income, often subject to personal tastes and economic conditions.

Shopping Product

Goods that a consumer, in the process of selection and purchase, characteristically compares on such bases as suitability, quality, price, and style.

Convenience Product

A consumer item that is widely available and purchased frequently with minimal effort.

Unsought Product

A type of product that consumers typically do not think of buying until a need arises or they are made aware of it through advertising.