Which of the Following Illustrates That Time and Surroundings Are

question 68

Multiple Choice

Which of the following illustrates that time and surroundings are factors of the purchase situation that can greatly stimulate buying behavior?

• A) Routine trip to grocery store
• B) Using mass transit to and from work
• C) Black Friday shopping
• D) Buying online
• E) Paying monthly cell phone bill

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Definitions:

Normal Profits

The return to the business owners for the opportunity cost of their implicit inputs.

MRP

Marginal Revenue Product, a term in economics that represents the additional revenue generated by employing one more unit of a factor, such as labor or capital.

Investment

The allocation of resources, such as capital or time, in order to generate future profit or income.

Usury Laws

Statutes that set maximum interest rates that can be charged on loans, intended to protect consumers from excessively high rates.