A product for which there are few substitutes and for which a change in price has little effect on quantity purchased is considered __________.

Related MCQs

• Setting a price that ends in the number 5, 7, or 9 is considered
• ______ is best described as doing something differently and has been described as discontinuous or complementary change.
• The difference between the buying and selling price is called _____ and it should be enough to cover all fixed costs.
• ______ refers to setting the price for an item relatively low and then charging much higher prices for the expendables it uses.
• A management philosophy of selecting and promoting people based on their being the most capable person for the job is considered which of the following?
• All of the following are questions that should be considered in the environmental and industry analysis section of the business plan except:
• Which of the following factors is the most important in forcing U.S companies to focus on new product development and increased productivity?
• Which one of the following is the next stage to the Concept Stage of Product Planning and Development Process?
• Charging the highest price the market will bear is called which of these?
• All but which of the following is considered to be a myth associated with entrepreneurship?