In a Market System,which of the Following Factors Determines a Consumers's

question 36

Multiple Choice

In a market system,which of the following factors determines a consumers's ability to pay for a good or service?

• A)Technology
• B)Consumer's income
• C)Cost of production
• D)Consumer's wants
• E)Market supply

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Definitions:

Holistic

An approach or perspective that emphasizes the importance of understanding the whole system, person, or problem rather than just focusing on its parts.

Information Transmission

The process of conveying data, knowledge, or information from one person, entity, or place to another.

Organizational Variable

Factors or characteristics within an organization that can influence its operation and outcomes, such as culture, structure, and leadership style.

Mutual Meaning

A shared understanding between parties about the significance or implications of a concept or term.