The Internal Factors Determining the Price of a Sports Product

question 6

Multiple Choice

The internal factors determining the price of a sports product include all of the following EXCEPT _____.

• A) consumer demand
• B) promotion
• C) product
• D) distribution
• E) cost

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Definitions:

Subsidy

A financial contribution granted by a government or organization to support a business, industry, or activity, making it more affordable or viable.

Market Equilibrium

A state in the market where the quantity demanded by consumers equals the quantity supplied by producers, leading to a stable price for a good or service.

Socially Optimal Level

A state in which resources are allocated in the most efficient way possible, maximizing societal welfare or benefit.

Positive Externalities

Benefits experienced by third-parties or the society at large due to an economic activity, not directly involved in the transaction, such as education or vaccination.