When Will an Increase or Decrease in the Price of a Product

question 184

Multiple Choice

When will an increase or decrease in the price of a product not significantly affect demand for the product?

• A) when demand for a product is elastic
• B) when demand for a product is responsive
• C) when demand for a product is derived
• D) when demand for a product is inelastic

Identify various types of value analyses used in sales to demonstrate product or service value.

Describe the Internet and cloud computing and how they influence business operations.

Grasp knowledge acquisition strategies for salespeople to enhance their effectiveness.

Differentiate between types of advertising (trade vs. industrial) and promotional strategies (consumer sales vs. trade sales).

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Definitions:

Federal Communications Commission (FCC)

A government agency responsible for regulating interstate and international communications by radio, television, wire, satellite, and cable in the U.S.

Wireless Frequencies

Electromagnetic wave frequencies utilized for communication purposes without requiring a physical connection, such as in cell phones and Wi-Fi.

Telecommunications Act

A comprehensive law enacted in 1996 to regulate the broadcasting and telecommunications industry.

Media Ownership

The ownership or control of media outlets, such as television stations, radio stations, newspapers, and websites, by companies or individuals.