Assume That a Consumer Purchases Only Two Products and There

question 32

Multiple Choice

Assume that a consumer purchases only two products and there is a decrease in the consumer's income. The prices of the two products stay constant. The decrease in income will result in a:

• A) Shift of the budget line inward to the left
• B) Shift of the budget line outward to the right
• C) A decrease in the slope of the budget line
• D) An increase in the slope of the budget line

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Definitions:

Marketing Ethics

The area of applied ethics that deals with the moral principles behind the operation and regulation of marketing, covering issues such as honesty, fairness, and responsibility.

Brand Strategy

The long-term plan for the development of a successful brand in order to achieve specific goals.

Brand Name

The unique name given to a product or service by a company to identify and differentiate it in the market.

Brand Mark

A distinct symbol, design, or distinctive coloring or lettering that identifies a brand and differentiates it from others.