A Major Disadvantage with a Want Book System Used to Gather

question 71

Multiple Choice

A major disadvantage with a want book system used to gather information about consumer demand is that ________.

• A) it only records preferences of current customers
• B) it does not record vendor preferences
• C) it does not record style or color preferences
• D) its accuracy depends on salesperson input

---

Definitions:

Resale of Goods

The act of selling previously purchased products, often used, to another party.

Price-Inelastic

Describes a situation where the demand for a product does not significantly change with a change in its price.

Price-Elastic

A characteristic of a good or service that indicates the demand for it changes significantly when its price changes.

Demand Pay

Compensation determined by the desirability or demand for specific job skills in the labor market.