Consumers Are More Likely to Be Price Sensitive When _____

question 175

Multiple Choice

Consumers are more likely to be price sensitive when _____.

• A) it is not easy to compare the prices of different goods
• B) the marginal cost of production is zero
• C) the price of the good is very low
• D) they have many substitute ways of meeting a need
• E) someone else pays the bill or shares the cost

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Definitions:

Work Inputs

Resources, effort, and materials required to perform tasks and produce outputs in a work environment.

Goal-Setting Theory

A motivational theory that emphasizes the importance of setting specific, challenging goals to enhance performance and achieve desired outcomes.

Setting Goals

The act of defining specific, measurable, achievable, relevant, and time-bound objectives that guide actions and efforts.

Performance-contingent Basis

A system where rewards or consequences are applied based on the level of performance achieved, incentivizing certain behaviors or outcomes.