Which Type of Consumer Product Is Purchased Infrequently and Takes

question 209

Multiple Choice

Which type of consumer product is purchased infrequently and takes an extensive amount of time to make the purchase decision?

• A)convenience product
• B)shopping product
• C)specialty product
• D)unsought product
• E)discretionary product

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Definitions:

Producer Surplus

The difference between what producers are willing to accept for a good or service and what they actually receive.

Phantom Tickets

Phantom tickets typically refer to tickets for an event that are sold or promised to a customer but do not actually exist or are not delivered, leading to potential scams or fraud.

Producer Surplus

The difference between the amount a producer is willing to accept for a good or service versus what they actually receive in the market.

Wisconsin Milk Market

Refers specifically to the dairy industry and marketplace within the state of Wisconsin, known for its significant contribution to the United States' milk production.