There are so many high-definition television sets on the market, and they vary so much on price, quality, and features that consumers often have trouble comparing them. A high-definition TV would probably be considered a _____ product.
A. convenience
B. specialty
C. heterogeneous shopping good
D. homogeneous shopping good
E. generic
Answer: C
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Market tests are diagnostic and are directed toward eliminating serious problems with the product
Indicate whether the statement is true or false
The silverback gorilla is considered by its family group as the one in charge because of his formal place in the family hierarchy. The group looks to him for guidance on eating and sleeping locations, when it is time to move, and to settle family disputes. The silverback can be described as having ______.
A. legitimate power B. referent power C. reward power D. personal power
Advertising allowances are price reductions given to firms further along in the channel to encourage them to advertise or promote a producer's products locally.
Answer the following statement true (T) or false (F)
Which of the following statements is true of the economic environment of a business?
A. It is affected by customer satisfaction. B. It reduces the hassles associated with acquiring manpower. C. It is affected by corruption. D. It prevents customers from turning into loyal advocates.