Answer:
b. False
Explanation:
A good is said to be 'normal' by economists if an increase in consumers' income bring about increase in demand for the good.
In other words, consumers will buy more of those goods when they have sufficient money due to availability of income.
Example of normal good is when the demand for household appliance like TVs or expensive clothes increases due to increase in income of consumers.
Whereas for an inferior good, demand for such good decreases as consumers' income increases.
The answer that best fits the blank provided above is the term COMMUNICATION. Since the main responsibility of Dan is to create a promotional campaign for a new line of footwear in Under Armour, he should state this in communication terms in order to target customers' attitudes for a favorable response.
Difference between the purchase price of the home and its current market price
Answer:
C. Anchoring
Explanation:
The first price to be mentioned will have an effect on the perception of all future prices. If we start with $200, then $100 will seem cheap, but £1000 seem expensive. But if we start with $10, then $100 will seem expensive.
The anchor for a price perception may be found in the first price mentioned. It can also arrive in the mind of the purchaser, where the anchor may have been set by previous experience.
