Answer: (B) Inelastic
Explanation:
According to the question, when the price of the t-shirt get increased then it generate the high revenue. This result into the decrease in the given quantity and it is smaller change as compared to the change in the price.
This process of the quantity results into the good in the inelastic. Inelastic is the term which is refers to the static quantity of the various types of good and the services and its price are get changed.
Therefore, Option (B) is correct.
Answer:
The correct answer is:
True (A)
Explanation:
Customer access strategy is a framework or a set of standards, guidelines and processes, which defines the means by which a customer and the organization can interact, and means by which the customer has access to:
- the relevant information needed to make purchases
- the right logistics for the execution of a purchase
The arear of access are mainly information (value of the product, price of products, how products work) and logistics (means of getting the products, customer service on the after-purchase needs etc).
It has been studied extensively that companies are spending 3 to 4 times as much money on creating customer access than they do on advertising, this is because even if advertising is successful, the results will not be seen if customer access is not successful, and having an efficient customer access strategy can provide a competitive advantage to the producers.
Answer:
Explanation:
1. Less capital: itinerant retailers have to move from one place to another , so they don't have to invest huge capital. For example: hawkers and paddlers have to buy just a hawker and some amount of goods which they can carry.
2. Services to doorsteps: these retailers provides their goods and services at the doors of the customers. For example: a vegetable seller sells vegetables at the doors of the customers
.
3. Elasticity: the goods they sells are usually perishable in nature and whose substitutes are available in abundance. Therefore, these goods are highly elastic
.
4. Economy: the goods which itinerants sells are economically cheaper, which even a low class of society can buy. For example: non-branded goods.
Answer:
D. The outlet substitution bias injects an upward bias into the CPI
Explanation:
