Very Infrequent Purchases with Some Comparison Shopping Are Characteristic of the Purchasing

question 54

Multiple Choice

Very infrequent purchases with some comparison shopping are characteristic of the purchasing behavior for a type of consumer product (such as burial insurance) that a prospective buyer may not initially want.This type of consumer service is referred to as a(n)

• A)unsought product/service.
• B)shopping product/service.
• C)convenience product/service.
• D)specialty product/service.
• E)support product/service.

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Definitions:

Negatively Correlated

Negatively correlated refers to two variables moving in opposite directions; as one increases, the other decreases, and vice versa.

Standard Deviations of Returns

A measure of the volatility or risk associated with the return on investment, indicating how much the returns can fluctuate over a period.

Positive Correlation

A relationship between two variables where they move in the same direction, meaning as one variable increases, the other does too.

Risk

The potential for financial loss or gain in an investment due to various factors including market volatility.