Factors That Determine Consumers' Willingness and Ability to Pay for Goods

question 51

Multiple Choice

Factors that determine consumers' willingness and ability to pay for goods and services are called _____.

• A)economic environmental factors
• B)consumer price indices
• C)demand factors
• D)elasticity factors

---

Definitions:

Office Supplies

Items used in offices on a regular basis for administrative tasks or operations, including pens, paper, and staplers.

Accounts Payable

Money owed by a business to its suppliers for goods or services that have been delivered or used but not yet paid for.

Accounts Receivable

Debts owed by clients to a corporation for items or services that have been supplied but are still unpaid.

Fees Earned

Revenue generated from professional services provided, often used in accounting for law firms, consulting businesses, and other service providers.