Statements regarding the concept of derived demand

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1. Which of the following statements regarding the concept of “derived demand” is true?

a. Large industrial firms derive their demand from the smaller firms in the market.

b. Individual consumers and families derive their demand based on the industrial market.

c. Industrial (business to business) firms ultimately derive their demand from the consumer market.

d. All of the above are true.

2. Which of the following examples illustrates “cognitive dissonance”?

a. Gracie buys a Sony-of-my-Owny 350DX digital camera, but a day later wonders if she purchased the right camera for her situation.

b. Fred would really like to have a flat-screen plasma TV one day, but as of now cannot afford to buy it.

c. Julio thinks that Gateway makes the best laptop PC, but his wife Maria thinks that the Dell laptop is better.

d. All of the above.

3. Which of the following statements regarding packaging is true?

a. A package should provide protection to the consumer and to the product.

b. A package should attract consumers' attention

c. A good package should explain the features of the product, and how to use it.

d. All of the above are true.

Reference no: EM132181476

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