Organizations That Provide Smoke-Free Environments or Low-Fat Products Are Responding

question 56

Multiple Choice

Organizations that provide smoke-free environments or low-fat products are responding to changes in

• A) technology.
• B) the legal environment.
• C) demographics.
• D) cultural values.
• E) political forces.

Recognize the factors that cause shifts in demand and supply curves.

Distinguish between normal goods, inferior goods, and substitutes.

Identify the impact of price changes on quantity demanded and supplied.

Analyze the effects of consumer income changes on demand for goods.

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Definitions:

Unsought Product

A type of product that consumers typically do not think of buying until a need arises or they are made aware of it through advertising.

Convenience Products

Items that the consumer purchases frequently, conveniently, and with a minimum of shopping effort.

Specialty Outlets

Specialty outlets are retail stores that focus on selling a specific category of products or services, offering a deep selection within those categories.

Convenience Stores

Convenience stores are small retail businesses that stock a range of everyday items such as groceries, snack foods, confectionery, soft drinks, tobacco products, over-the-counter drugs, toiletries, newspapers, and magazines.