Question 1

What is a factor affecting the elasticity of demand?

Accepted Answer

Price of the product

Answer

Color of the product

Answer

Material of the product

Answer

Size of the product

Question 2

Which factor can influence the elasticity of demand for a product?

Accepted Answer

Consumer income

Answer

Weather conditions

Answer

Number of advertisements

Answer

Distance traveled to buy the product

Question 3

What is another factor that can affect the elasticity of demand?

Accepted Answer

Availability of substitutes

Answer

Brand of the product

Answer

Expiration date of the product

Answer

Place of production

Question 4

Which factor can influence how much people are willing to buy a product at a certain price?

Accepted Answer

Brand loyalty

Answer

Weather forecast

Answer

Distance from the store

Answer

Number of online reviews

Question 5

What factor can impact the elasticity of demand for a product?

Accepted Answer

Trends and fashion

Answer

Smell of the product

Answer

Number of friends using the product

Answer

Time of day

Question 6

How can the price of a product affect the elasticity of demand?

Accepted Answer

The higher the price, the lower the demand

Answer

The higher the price, the higher the demand

Answer

The lower the price, the higher the demand

Answer

The lower the price, the lower the demand

Question 7

What factor can affect how much people are willing to spend on a product?

Accepted Answer

Their budget or income

Answer

Their favorite color

Answer

The store's location

Answer

The product's smell

Question 8

How can the availability of alternatives impact the elasticity of demand for a product?

Accepted Answer

More alternatives can make demand more elastic

Answer

Fewer alternatives can make demand more elastic

Answer

Fewer alternatives can make demand less elastic

Answer

More alternatives can make demand less elastic

Question 9

What factor can influence how much people want to buy a product when its price changes?

Accepted Answer

Popularity of the product

Answer

Scent of the product

Answer

Material used in the product

Answer

Noise level of the product

Question 10

What is a factor that can affect how much people want to buy something?

Accepted Answer

Seasonal changes

Answer

Time changes

Answer

Weather changes

Answer

Color changes

Question 11

What is a factor that can impact how much people are willing to pay for a product?

Accepted Answer

Quality changes

Answer

Height changes

Answer

Weight changes

Answer

Age changes

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