"Knowing your customer" means:
A) knowing what factors affect customer choices.
B) knowing the names of customers.
C) knowing whether something is a fad or a fashion.
D) knowing that people do not believe advertising.
E) having an understanding of why price goes up or down.
A
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According to its advocates, what are four advantages product differentiation and advertising provide to consumers?
What will be an ideal response?
When voting systems fall short of the ideal by violating the principle of transitivity, the ____________ is sometimes crucial in shaping the final outcomes.
A. order in which voters get to cast their votes B. order in which the votes get tallied C. power to set the agenda D. ability to say how much one option is preferred over others
The percentage change in quantity demanded of good A divided by the percentage change in price of good B is the formula for
a. cross-price elasticity of demand. b. income elasticity of demand. c. zero elasticity of demand. d. infinite elasticity of demand.
When aggregate expenditure is greater than GDP, then there will be an:
A. Unplanned increase in inventories and GDP will increase B. Unplanned decrease in inventories and GDP will increase C. Unplanned increase in inventories and GDP will decrease D. Unplanned decrease in inventories and GDP will decrease