When Economists Say That the Demand for a Product Has

question 215

Multiple Choice

When economists say that the demand for a product has increased, they mean that:

• A)consumers are now willing to purchase more of this product at each possible price.
• B)the product has become particularly scarce for some reason.
• C)the product price has fallen and as a consequence consumers are buying a larger quantity of the product.
• D)the demand curve has shifted to the left.

Differentiate between high- and low-involvement purchases.

Analyze the effect of cognitive dissonance on post-purchase behavior.

Comprehend the importance of situational factors such as physical and social surroundings in decision making.

Understand strategies for marketing low-involvement products.

---

Definitions:

Arterial Blood Pressure

The pressure within arteries, which is vital for circulating blood throughout the body.

Sphygmomanometer

A sphygmomanometer is a device used to measure blood pressure, typically involving a cuff that is placed around the arm.

Electrocardiograph

A medical device used to record the electrical activity of the heart over a period of time.

Ischemia

A condition of reduced blood flow to tissues, causing a shortage of oxygen that is needed for cellular metabolism.