Which Products Are Not Known About or Not Actively Searched

question 31

Multiple Choice

Which products are not known about or not actively searched for by consumers,and require aggressive personal selling and highly persuasive advertising?

• A) unsought
• B) shopping
• C) specialty
• D) hidden

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Definitions:

Demand

The quantity of a good or service that consumers are willing and able to purchase at various prices during a certain time period.

Perfectly Elastic

Describes a situation where the quantity demanded or supplied of a product responds infinitely to even the smallest change in price.

Inelastic

Refers to a situation where the demand or supply of a good or service is relatively unresponsive to changes in price.

Price Effect

The impact on consumer demand and supply of goods caused by changes in the price of a product or service.