A Promotional Tool Often Used with Consumers That Consists of Merchandise

question 181

Multiple Choice

A promotional tool often used with consumers that consists of merchandise offered free or at a significant savings over its retail price is referred to as a

• A) deal.
• B) rebate.
• C) sample.
• D) premium.
• E) coupon.

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Definitions:

Sustainable

The quality of not being harmful to the environment or depleting natural resources, thereby supporting long-term ecological balance.

Substitution Effect

The change in consumption patterns due to a change in relative prices, where consumers substitute away from more expensive goods towards cheaper ones.

Income Effect

The alteration in the income of an individual or an economy and its impact on the demand for a specific good or service.

Private Saving

Private saving is the portion of household income that is not consumed or paid in taxes, but instead is saved or invested.