The Challenge for Makers of Which Type of Product Is

question 105

Multiple Choice

The challenge for makers of which type of product is to add long-run benefits without reducing the product's pleasing qualities?

• A) Salutary
• B) Desirable
• C) Pleasing
• D) Durable
• E) Deficient

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Definitions:

Quantity Demanded

In economics, the total amount of a good or service that consumers are willing and able to purchase at a given price.

Income

The financial gain received by an individual or household, usually derived from work, investments, or other sources, over a period.

Own Price Elasticity

The responsiveness of the quantity demanded of a good to a change in its own price, holding other factors constant.

Delicacy Market

A sector of the food industry focused on selling rare, expensive, or gourmet items considered highly desirable.