Product differentiation refers to
A. The selling of identical products in different markets.
B. The charging of different prices for the same product in different markets.
C. Different prices for the same product in a certain market.
D. Features that make one product appear different from competing products in the same market.
Answer: D
You might also like to view...
According to the principle of diminishing returns, if all factors of production but one are held constant and if that one factor is doubled, then eventually output will most likely
A) double too. B) more than double. C) less than double. D) remain unchanged.
What does it mean to say that a good generates network externalities?
What will be an ideal response?
Which of the following is true from the perspective of the New Keynesian school of thought?
a. Fluctuations in private spending does not affect aggregate demand in an economy. b. Investment spending remains relatively constant irrespective of the supply shocks. c. Fluctuations in aggregate demand are not the primary source of problem for policymakers. d. The government should limit its role to administrative functions. e. Monetary and fiscal policies often fail to restore macroeconomic equilibrium.
Jack buys a computer from Sam, knowing fully well that the technology used in it is obsolete. In this case, the trade is
a. beneficial to both parties. b. beneficial only to Sam. c. beneficial only to Jack. d. not beneficial to either of them.