List three reasons why demand for a product will often increase if the product is endorsed by a celebrity
What will be an ideal response?
1. Consumers may believe that the celebrity is particularly knowledgeable about the product.
2. Buying the product may make people feel closer to the celebrity.
3. Buying the product may make people feel fashionable.
You might also like to view...
In any society, an effective system of property rights would not be possible without
A) the cooperation of other people. B) the entire legal system to adjudicate them fairly. C) the police to enforce them. D) non-property (public rights).
What are the five main economic goals of the United States?
What will be an ideal response?
In an "underground economy," the production of goods and services
A) is usually too insignificant to be included in GDP. B) is not measured but is included in GDP. C) is measured and included in GDP. D) is not measured or included in GDP.
An increase in the U.S. demand for foreign exchange will cause a(n)
a. increase in the price of foreign exchange, which is a depreciation of the U.S. dollar, making foreign goods cheaper to U.S. residents b. increase in the price of foreign exchange, which is a depreciation of the U.S. dollar, making foreign goods more expensive to U.S. residents c. decrease in the price of the U.S. dollar, which is an appreciation of the U.S. dollar d. increase in the price of foreign exchange, which is an appreciation of the U.S. dollar e. decrease in the price of foreign exchange, which is an appreciation of the U.S. dollar