When Estimating Demand, Price Is Not the Only Factor to Be

question 14

Multiple Choice

When estimating demand, price is not the only factor to be considered. Three other elements emphasized by economists are consumer tastes, price and availability of similar products, and

• A)consumer income.
• B)consumer psychographics.
• C)size of the target market.
• D)current political agendas.
• E)green substitutes.

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Definitions:

Capital Commitments

Obligations of a company to spend capital in the future on items such as property, plant, and equipment or other significant investments.

AASB 11

Australian Accounting Standard Board's directive concerning the financial reporting of interests in joint arrangements to ensure transparency and comparability.

Alternative Reporting Formats

Refers to various formats a company may use to present its financial statements, outside of the standard formats.

Joint Venture

A business arrangement in which two or more parties agree to pool their resources for the purpose of accomplishing a specific project or business activity.