Figure 10-1 -With Respect to Price,which of the Following Type of Consumer

question 217

Multiple Choice

Figure 10-1

-With respect to price,which of the following type of consumer product would usually be very expensive?

• A)convenience product
• B)shopping product
• C)discretionary product
• D)specialty product
• E)unsought product

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Definitions:

Salvage Value

The estimated residual value of an asset at the end of its useful life, representing what it could be sold for or scrapped.

Technologically Obsolete

Refers to products, services, or technology that have become outdated or no longer maintain a competitive advantage due to advancements in technology.

Simple Rate Of Return

A method to evaluate an investment's efficiency by dividing the annual incremental net operating income by the initial investment cost.

Cash Operating Costs

Expenses a company incurs during its day-to-day operational activities that require cash payment.