When Quantity Demanded Has Increased at Every Price,it Might Be

question 10

Multiple Choice

When quantity demanded has increased at every price,it might be because

• A)the number of buyers in the market has decreased.
• B)income has increased,and the good is an inferior good.
• C)the costs incurred by sellers producing the good have decreased.
• D)the price of a complementary good has decreased.

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Definitions:

Black Box

The unobservable, internal process taking place within the mind of the prospect as he or she reaches a decision whether or not to buy.

Product Advantage

The unique benefits or features that make a product superior to competing offerings in the eyes of the target market.

Individual Factors

Personal characteristics or traits that affect consumer behavior, including age, income level, education, and personal preferences.

Organizational Buying

Organizational buying refers to the decision-making process and purchase activities undertaken by formal organizations to acquire products and services for their own use or production.