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Which of the Following Types of Dimensions Would Be the Most

question 186

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Which of the following types of dimensions would be the most important if one were particularly interested in why some target market was likely to buy a particular brand within a product-market?


Definitions:

Demand Curve

A graph showing the relationship between the price of a good or service and the quantity demanded at those prices, typically downward sloping.

Elastic Demand

A situation where the demand for a product or service significantly changes in response to a change in its price.

Substitutes Availability

The presence of alternative products or services that consumers can turn to when the price of a good increases or its quality decreases.

Supply Curves

A graph that shows the relationship between the price of a good and the quantity of the good that suppliers are willing to offer for sale at that price.

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