The Item Below Likely to Have the Highest Income Elasticity

question 50

Multiple Choice

The item below likely to have the highest income elasticity of demand is:

• A)a luxury cruise to several European countries.
• B)water.
• C)breakfast cereal.
• D)a hamburger.

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Definitions:

Online Communities

Virtual spaces where individuals gather to share information, interact, and form relationships around common interests.

Social Networking Sites

Websites that provide a virtual community for people to socialize about a particular subject or any topic in general.

Channel Conflict

Conflict between two or more members of a supply chain, such as a manufacturer, wholesaler, or retailer.

Extranets

Private networks that use internet technology to securely share part of a business's information or operations with suppliers, vendors, partners, customers, or other businesses.