The Impact of Price Changes

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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?

Only a), b), c) are correct (A) Signup and view all the answers

Which of the following statements accurately describes price elasticity?

Price elasticity is the change in price divided by the change in volume. (D) Signup and view all the answers

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

Price and demand do not change. (B) Signup and view all the answers

Which type of products are usually perfectly inelastic?

High price products. (A) Signup and view all the answers

Which of the following statements accurately describes perfectly inelastic demand?

Demand is unaffected by price changes (D) Signup and view all the answers

Which of the following is true about perfectly inelastic products?

High price products are usually perfectly inelastic (C) Signup and view all the answers

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

Price and demand are decoupled (A) Signup and view all the answers

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

False (B) Signup and view all the answers

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

True (A) Signup and view all the answers

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

False (B) Signup and view all the answers

What does intercultural communication focus on?

Recognition and respect of cultural differences (C) Signup and view all the answers

What is the goal of intercultural communication?

Mutual adaptation between distinct cultures (D) Signup and view all the answers

What does intercultural communication promote?

Cultural sensitivity and empathic understanding (B) Signup and view all the answers

What is the scope of intercultural communication?

Wide range of communication processes and problems within diverse social contexts (A) Signup and view all the answers

What does intercultural communication seek to understand?

How people from different countries and cultures act, communicate, and perceive the world (D) Signup and view all the answers