________ Are Consumer Products for Which a Consumer Either Has

question 71

Multiple Choice

________ are consumer products for which a consumer either has little awareness or interest until a need arises.These products require a lot of advertising,personal selling,and other marketing efforts.

• A)Specialty products
• B)MRO products
• C)Unsought products
• D)Shopping products
• E)Staples

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Definitions:

Bliss Point

The optimal quantity of consumption where any further increase or decrease would lead to lower satisfaction or utility.

Absolute Values

A mathematical operation that measures the distance of a number from zero on the number line, disregarding direction.

Indifference Curve

A graphical representation showing different combinations of two goods that provide an individual with the same level of satisfaction.

Favorite Bundle

In economic theory, it refers to the most preferred combination of goods and services by an individual or consumer.