When It Comes to Measuring Consumers' Price Sensitivity, Products Are

question 30

Multiple Choice

When it comes to measuring consumers' price sensitivity, products are viewed as either

• A)elastic or inelastic.
• B)fixed or variable.
• C)complementary or substitutable.
• D)necessary or optional.
• E)dynamic or rigid.

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Definitions:

Concepts

General ideas or understandings that can be used to group together objects, events, qualities, or abstractions that are similar in some way.

Mental Processing

The operations performed by the brain to receive, perceive, store, and retrieve information.

Conscious

Conscious refers to the awareness of the self, one's thoughts, feelings, and environment at any given time.

Strong Feelings

Intense emotional responses, which can range from joy, love, and excitement to anger, fear, and sadness.