The Desire for a Product Class Rather Than for a Specific

question 183

Multiple Choice

The desire for a product class rather than for a specific brand is called ________ demand.

• A) selective
• B) primary
• C) derived
• D) generic
• E) secondary

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Definitions:

Import

The process of importing products or services from foreign countries for the purpose of selling them.

U.S. Tariff

A tax imposed by the United States government on imported goods to protect domestic industries or to generate revenue.

Oil

A fossil fuel in liquid form, primarily used for energy production and as a raw material in chemicals manufacturing.

Domestic Quantity

Refers to the total amount of a good or service produced within a country's borders, irrespective of the production entity's nationality.