Source Refers to

question 71

Multiple Choice

Source refers to

• A)any paid form of advertising.
• B)consumers who read, hear, or see the message during the communications process.
• C)people with similar understanding and knowledge who are willing to share that knowledge with others.
• D)a company or person who has information to convey during the communications process.
• E)any knowledgeable group of individuals who are willing to share that knowledge with others.

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Definitions:

Market Price

The current price at which a good or service can be bought or sold on the open market, determined by the forces of supply and demand.

Total Market

The entire demand for a certain product or service, inclusive of all segments and types of consumers within a market.

Price Searchers

Firms or individuals who actively seek out and compare prices in an effort to find the most favorable market conditions.

Price Takers

Economic agents who accept the prevailing market prices and have no influence over them due to their small market share.