Demand Quiz

What is the term for the amount of a good that consumers are willing and able to buy at a given price?

• Product differentiation

• Market mapping

• Demand

• Value-added

Which of the following factors can lead to a change in demand?

• Changes in consumer incomes

• Advertising and branding

• External shocks

• All of the above

What determines the level of demand for a product or service?

• Price

• Market segmentation

• Information Technology

• Product differentiation

Which of the following is an example of non-price determinants of demand?

• Price of substitutes

• Changes in consumer income

• Marketing and advertising

• Seasonality

What is the term for a product that can be replaced with another similar product?

• Substitute goods

• Complementary goods

• Demographics

• External shocks

Which of the following can stimulate demand for a product or service?

• Trends and fads in fashion and tastes

• Marketing and advertising

• Population structure and demographics

• All of the above

What is the term for a predictable change or pattern in a time series that recurs over a one-year period?

• Substitute goods

• Complementary goods

• Demographics

• Seasonality

Which of the following external shocks can change demand for a product?

• Terrorism

• War

• Disease and health scares

• All of the above

What is the term for the process of adding value to products?

• Product differentiation

• Market mapping

• Value-added

• Qualitative research

Which of the following factors can limit market research?

• Small sample size

• Quantitative market research data

• Information Technology

• Market segmentation