A Buyer Is Said to Have a Demand for a Good

question 21

Multiple Choice

A buyer is said to have a demand for a good only when

• A)The buyer wants to own the good.
• B)The buyer is both willing and able to purchase the good at alternative prices.
• C)The price of the good is low enough.
• D)An adequate supply of the good is available for purchase.

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Definitions:

Status

The relative social, professional, or other standing of someone or something, which can be indicated by various factors including wealth, authority, and achievement.

Recognition

The ability or action of identifying or acknowledging something or someone as already known or familiar.

Impulse Buy

A purchase made spontaneously, often without prior planning, driven by emotional response rather than thoughtful decision-making.

Magazines

Publications, usually periodical, containing articles, photographs, and advertisements in specific interest areas.