<span>Products that customers consider essentials or necessities tend to have less elasticity than products viewed as luxury or discretionary. If a customer believes he needs a certain product for survival, quality of life, or pleasure, he is more likely to stretch a bit to purchase the item if the price goes up. On the contrary, a product viewed as optional is a less likely purchase as the price increases because the customer believes he can live without it.Customer OptionsThe more options a customer has to meet a particular functional or emotional need, the more elastic a product's demand. This is why a company with a monopoly has a huge advantage. Customers don't have options and feel compelled to buy from the given provider. In highly competitive industries, price differentials are usually less among competing brands because of the ability customers have to select lower-priced alternatives. A closely related factor is the cost of switching brands. Cell phone customers often wait to change providers to avoid penalties if they are obligated to service contracts.
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Answer: c. Something of value is offered to influence a business decision rather than an official act of government.
Explanation:
A bribery can be defined as the providing or giving any reward in terms of cash, property, or any other favors to influence any official act or to convince any officer to do a desirable task in once own favor. The bribery can be given to influence the decisions of the government organizations, and agencies. The major difference between bribery and commercial bribery is that bribery can influence any official for performing a specific task but in commercial bribery, bribery is given to influence government actions which can support the business in present and in future.
Hello, the answer that best fits this sounds like “Conditioned Response”. The stimulus would be the fireworks, and the conditioned response or learned response would be the child covering her ears. She’s learned how loud they sound and in response to that she’s aware of when they are about to put and covers her ears. Hope this helped.
Answer:
c.
Explanation:
According to my research on the basic principles of economics, I can say that based on the information provided within the question they suggest that governments should become involved in markets when those markets fail to produce efficient or fair outcomes. This is so that everything remains balanced and not one-sided as that can lead to huge problems in society.
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Answer:
B. Upset and financially strained
Explanation:
A depression means a loss of work availability and a decline in the economy. A can be ruled out, as nobody would view a depression positively. Although C was true for some people (e.g. the extremely rich), for the vast majority is was not. Option D is incorrect because a depression is not an annoyance; it is a horrible thing that puts many people out of work. Therefore, the only viable option is B.
