Which of the Following Is a Non-Price Determinant of Demand

question 71

Multiple Choice

Which of the following is a non-price determinant of demand?

• A) income
• B) tastes and preferences
• C) prices of related goods and services
• D) All of the above are correct.

Gain knowledge on budgeting for compensation and its variables.

Analyze the effects of compensation cost changes on the organization.

Recognize the challenges in planning for information technology within the context of compensation.

Develop strategies for introducing new compensation systems to employees.

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Definitions:

Conditioned Response (CR)

A learned response to a previously neutral stimulus that, after being repeatedly paired with an unconditioned stimulus, elicits a reaction.

Unconditioned Stimulus (US)

In classical conditioning, a stimulus that instinctively and involuntarily elicits a reaction without any previous learning.

Discrimination

Unjust or prejudicial treatment of different categories of people, often based on race, age, gender, or religion.

Observational Learning

The process of acquiring skills, knowledge, or behaviors by watching and imitating others, rather than through direct experience or instruction.