Examlex

Solved

Which of the Following Is an Example of an External

question 55

Multiple Choice

Which of the following is an example of an external search a consumer may conduct?


Definitions:

Market Prices

The amount of money required to purchase a good or service in a market.

Quantities Demanded

The total amount of a good or service that consumers are willing and able to purchase at a particular price in a given market.

Substitute Products

Products that can serve as replacements for each other; when the price of one increases, the demand for the substitute is likely to increase.

Price

The charge in currency projected, demanded, or provided in recompense for something.

Related Questions