An Unplanned Buying Behavior Resulting from a Powerful Urge to Buy

question 205

Multiple Choice

An unplanned buying behavior resulting from a powerful urge to buy something immediately is called

• A) impulse buying.
• B) habitual buying.
• C) compulsive response behavior.
• D) non-problem solving.
• E) cognitive dissonance.

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Definitions:

Producers Gain

The increase in total revenue that producers achieve from selling goods or services, typically measured against costs.

Price Elasticity of Demand

Measures how much the quantity demanded of a good responds to a change in the price of that good.

Short-Run Elasticity

Measures the responsiveness of demand or supply to price changes over a short period.

Equilibrium Price

The point in the market where the volume of goods available equals the volume of goods sought by buyers.