The Impact of Price Changes
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Questions and Answers

Which of the following is true about the effects of price increases?

  • Price increases will reduce the demand (correct)
  • When prices are suddenly increased customers tend to panic and buy what they can get
  • When prices are increased customers postpone their purchase decisions
  • When prices are only temporarily reduced (sale) this has no effect on the long term price perception

    • What is the effect of sudden price increases?

  • When prices are increased customers postpone their purchase decisions
  • Price reductions lead to blocked purchase decisions in future
  • Customers tend to panic and buy what they can get (correct)
  • When prices are only temporarily reduced (sale) this has no effect on the long term price perception

    • What happens when prices are temporarily reduced (sale)?

  • Price increases will reduce the demand
  • When prices are increased customers postpone their purchase decisions
  • This has no effect on the long term price perception (correct)
  • Customers tend to panic and buy what they can get

    • Which statements are true about the effects of price changes?

    <p>Only a), b), c) are correct</p> Signup and view all the answers

    Which of the following statements accurately describes price elasticity?

    <p>Price elasticity is the change in price divided by the change in volume.</p> Signup and view all the answers

    What does it mean for a product to be perfectly inelastic?

    <p>Price and demand do not change.</p> Signup and view all the answers

    Which type of products are usually perfectly inelastic?

    <p>High price products.</p> Signup and view all the answers

    Which of the following statements accurately describes perfectly inelastic demand?

    <p>Demand is unaffected by price changes</p> Signup and view all the answers

    Which of the following is true about perfectly inelastic products?

    <p>High price products are usually perfectly inelastic</p> Signup and view all the answers

    What is the effect of perfectly inelastic demand on price changes?

    <p>Price and demand are decoupled</p> Signup and view all the answers

    True or false: Perfectly inelastic means that price and demand are decoupled?

    <p>False</p> Signup and view all the answers

    True or false: High price products are usually perfectly inelastic?

    <p>True</p> Signup and view all the answers

    True or false: Products that are easy to replace are perfectly inelastic?

    <p>False</p> Signup and view all the answers

    What does intercultural communication focus on?

    <p>Recognition and respect of cultural differences</p> Signup and view all the answers

    What is the goal of intercultural communication?

    <p>Mutual adaptation between distinct cultures</p> Signup and view all the answers

    What does intercultural communication promote?

    <p>Cultural sensitivity and empathic understanding</p> Signup and view all the answers

    What is the scope of intercultural communication?

    <p>Wide range of communication processes and problems within diverse social contexts</p> Signup and view all the answers

    What does intercultural communication seek to understand?

    <p>How people from different countries and cultures act, communicate, and perceive the world</p> Signup and view all the answers

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