Economics Student Would Like to Buy a Mini-Scooter but She

question 161

Multiple Choice

economics student would like to buy a mini-scooter but she cannot afford one.Which of the following reasons explain why marketing fails to occur here?

• A) There are not two or more parties with unsatisfied needs.
• B) A desire to satisfy a need is missing.
• C) No assessments of consumer wants and needs have been made.
• D) There is no way for the parties involved to communicate.
• E) The ability to satisfy a need is missing.

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Definitions:

Ceteris Paribus

A Latin phrase meaning "all other things being equal," used in economics to indicate that other variables remain constant during an analysis.

Producer Surplus

The difference between the price at which producers are willing to sell a good and the actual market price they receive.

Quantity Supplied

The amount of a certain good or service that producers are willing and able to provide at a specific price.

Quantity Demanded

Refers to the total amount of a good or service that consumers want to buy at a specific price level in a given period.