Answer:
Income effect
Explanation:
The effect is because the customer purchasing power has been changed due to which he is now able to buy more to fulfill his needs and wants. The income effect occurs due to two reasons.
Number 1. The real income of the person has been increased which means his purchasing power has been increased. This means previously you were earning $2000 a month and now you are earning $10000 a month. Now you can buy New Iphone every month because your real income has been increased and this has increased your purchasing power.
Number 2. The price of the product has been fallen and now it is in range of the purchasing power of the customer. This means that if Iphones 11 are available at $100 then everybody buy Iphone 11. This is because the product is in the range of purchasing power of greater number of customers.
Answer: lower cost
Explanation:
An insurance policy is a contract between an insurance company and a policyholder, which helps the policyholder to be able to make claims when there's an accident or death in case of life insurance.
In the above scenario in the question, if a driver with an insurance policy drives infrequently, it can lower costs.
Therefore, the correct option is B.
Answer:
competitive advantage
Explanation:
Based on the information provided within the question it can be said that this is an example of communicating a product's competitive advantage. This term refers to a specific condition that allows a company to be placed in a favorable or superior position within the industry which it is in. Which in this case having high quality coffee at an extremely low price when compared to the competition puts it in this favorable position.
Answer:
Cultural formula
Explanation:
Cultural formula can be described as a situation there is tend to a consistent occurrence of certain roles and props in a series of media events.
Cultural formula can be employed in a novel through the use of certain roles for characters and props that go along with the genre.
Therefore, Chandler's novels followed a cultural formula.
Answer:
B sell some
Explanation:
in a scenario where it is dropping, it doesn't mean it won't come back up. So you would sell some but keep a few so if it went up you still make profit