The goal of is to make it convenient for consumers to find and purchase products at many locations and in many ways.
a. the wheel of retailing
b. cluster wholesaling
c. intensive distribution
d. selective distribution

Choose the statement that is incorrect. a. search activity occurs only in markets where there is a shortage. b. when a price is regulated and there is a shortage, search activity increases. c. the time spent looking for someone with whom to do business is called search activity. d. the opportunity cost of a good is equal to its price plus the value of the search time spent finding the good.

Question 55 ted, a supervisor for jack's pool supplies, was accused of stealing pool supplies and selling them to friends and relatives at reduced prices. given ted's earlier track record, he was not fired immediately. the authorities decided to give him an administrative leave, without pay, until the investigation was complete. in view of the given information, it would be most appropriate to say that ted was: demoted. discharged. suspended. dismissed.

If consumers start to believe they need a product, what is likely to happen? a. the demand becomes less elastic. b. the demand becomes more elastic. c. the supply decreases. d. the price decreases.