Which of the Following Activities Is Most Likely to Be

question 128

Multiple Choice

Which of the following activities is most likely to be an example of routine response behaviour?

• A) the first-time purchase of a new pickup truck
• B) the purchase of a funeral casket
• C) a painter's purchase of a 20-foot extension ladder for $600
• D) the purchase of a replacement light bulb

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Definitions:

Market Price

The present cost at which an item or service may be purchased or sold within a specific market.

Individual Transferable Quota (ITQ)

A policy tool that allocates the right to harvest a natural resource amount among users through transferable quotas.

Market Price

The price at which a good or service can be bought or sold in the open market, determined by supply and demand.