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1. Seller has ample time to adjust to price change.
2. Buyer's response to small price change is significant.
3. Buyers are faced with many options when deciding to make a purchase.
4. Sellers do not have much time to adjust to price change.
5. Buyers consider this item to be a necessity.
a. Elastic demand
b. Inelastic demand
c. Inelastic supply
d. Elastic supply
What are the 2 approaches in which results into a higher satisfaction?
what will be the possible concequences if a large scale like Toyota place its new product in Indian market without having forecast the demand for its product
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