An example of a personal channel is ___, which is informal communicating among consumers about products and services
Fill in the blank(s) with the appropriate word(s).
Answer: word-of-mouth
You might also like to view...
During recent Global Economic Crises, U.S. household liabilities have
A) increased B) decreased C) remained the same D) quadrupled
Some antitrust laws address situations involving _______________, where even though there are no outright agreements to control prices or production, the result might still be to reduce competition.
a. restrictive practices b. mergers and acquisitions c. price wars d. union contracts
A positive income elasticity of demand coefficient indicates that:
A. two products are complementary goods. B. two products are substitute goods. C. a product is a normal good. D. a product is an inferior good.
Using aggregate demand and aggregate supply, explain what happens in the short run if the Federal Reserve raises interest rates in the economy. Be sure to detail what happens to aggregate demand, the price level, the level of GDP, and unemployment
Assume that the economy is at full employment before the interest rate increase. What will be an ideal response?