The Number of Intermediaries Between the Producer and the Consumer

question 121

Multiple Choice

The number of intermediaries between the producer and the consumer is known as the

• A) channel quality.
• B) marketing mix.
• C) channel length.
• D) experience curve.

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Definitions:

Consumer's Surplus

The difference between the total amount consumers are willing to pay for a good or service and the total amount they actually pay.

Net Increase

The difference resulting from the amount by which something grows or goes up less any decreases.

Units of X

A measure or quantity of a specific good or product, referred to as 'X' in an economic or mathematical context.

Consumer's Surplus

The difference between the total amount that consumers are willing and able to pay for a good or service versus the total amount that they actually pay.