Customers Are Likely to Be Less Price Sensitive When

question 5

Multiple Choice

Customers are likely to be less price sensitive when:

• A) it is easy to compare prices.
• B) someone else pays the bill.
• C) the total expenditure is high.
• D) there are substitutes available.
• E) their share of the cost is high.

Recognize the applicability and limits of the Sale of Goods Act in various transactions.

Identify legal responsibilities and rights of parties in sales contracts, including buyers, sellers, manufacturers, and dealers.

Analyze the legal consequences of breach of contract in sales transactions.

Understand consumer protection laws and their impact on sales, warranties, and deceptive practices.

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Definitions:

Normal Color Vision

The ability to perceive colors in a manner that is considered standard or average, involving the differentiation of color hues.

Opponent-Process Theory

A psychological and neurological model that describes how humans perceive colors, proposing that visual elements are interpreted in terms of opposite colors.

Excitation

The process of causing a cell or an organism to become activated or more active.

Antagonists

Drugs that impede the activity of a neurotransmitter.