Selective Demand Is Demand for a

question 110

Multiple Choice

Selective demand is demand for a

• A) general type of product.
• B) particular brand.
• C) new product.
• D) competitor's product.
• E) service.

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Definitions:

Conditions

The circumstances or criteria affecting the operation of markets or the status of economic factors.

Price Elasticity

The measure of how much the quantity demanded of a good or service changes in response to a change in its price.

Demand

Pertains to the amount of a good or service that buyers are prepared and capable of buying at different price levels over a specified time frame.

Price Discrimination

The strategy of selling the same product at different prices to different customers, based on willingness to pay, without corresponding cost differences.