If Consumers Are Price Sensitive,then

question 121

Multiple Choice

If consumers are price sensitive,then

• A)they will have elastic demand curves.
• B)they will have inelastic demand curves.
• C)they will have no demand curve.
• D)they will not shop around very much.
• E)they likely perceive no close substitutes.

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Definitions:

Operational Risks

The risks of loss resulting from inadequate or failed internal processes, people and systems, or from external events impacting the operation of a business.

Structural Risks

Refers to the potential for failure or significant damage to a system, organization, or structure due to inherent weaknesses or flaws.

Operational Risks

The possibility of experiencing a loss due to inefficient or malfunctioning internal procedures, individuals, and systems, or owing to occurrences outside the organization's control.

Vendors Quality

The measure of excellence or state of being free from defects, deficiencies, and significant variations, brought by the strict and consistent adherence to measurable and verifiable standards to meet consumer's satisfaction by the vendor.