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Questions and Answers
What is the impact of high prices on consumer purchasing?
What is the impact of high prices on consumer purchasing?
- Consumer purchasing decreases (correct)
- Consumer purchasing becomes more frequent
- Consumer purchasing remains constant
- Consumer purchasing increases
How does a change of season affect consumer buying behavior?
How does a change of season affect consumer buying behavior?
- Consumer buying remains constant
- Consumer buying decreases (correct)
- Consumer buying becomes unpredictable
- Consumer buying increases
What happens to consumer demand when product prices are low?
What happens to consumer demand when product prices are low?
- Consumer demand increases (correct)
- Consumer demand fluctuates
- Consumer demand decreases
- Consumer demand remains the same
Demand is a concept that consumers and businesses are very familiar with because it makes sense and occurs naturally in the course of practically any day.
Demand is a concept that consumers and businesses are very familiar with because it makes sense and occurs naturally in the course of practically any day.
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Shoppers buy more when the products' prices are low
Shoppers buy more when the products' prices are low
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When something happens to raise the prices, such as a change of season, shoppers buy fewer or perhaps none at all
When something happens to raise the prices, such as a change of season, shoppers buy fewer or perhaps none at all
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Study Notes
Consumer Demand and Pricing
- High prices lead to a decrease in consumer purchasing, as shoppers tend to buy fewer or none at all.
- A change of season can affect consumer buying behavior, influencing their purchasing decisions.
- Low product prices result in increased consumer demand, as shoppers are more likely to buy more when prices are low.
- The concept of demand is a natural and intuitive concept that occurs in daily life, making sense to both consumers and businesses.
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