Of the Following, Which Are the Most Receptive to New

question 193

Multiple Choice

Of the following, which are the most receptive to new products and new brands?

• A) Families with small children.
• B) Older people with no children.
• C) Families with teenagers.
• D) Families whose children are grown.
• E) Younger people with no children.

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Definitions:

Price Elasticity

A gauge of the responsiveness of the quantity of a good supplied or sought after to fluctuations in its price.

Equilibrium Point

A state in a market where the supply of goods matches demand, resulting in stable prices and quantities.

Total Revenues

The overall income received by a business from its operational activities, usually from sales of goods or services.