The changes in prices of other products affect the demand for an item. This is a phenomenon called ________
A) cross-elasticity of demand
B) complementary elasticity
C) interdependent elasticity
D) parallel elasticity
E) variable demand
A
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Which of the following contracts represents the transfer of an interest in land?
a. Sale of a wheat crop: harvest to be made by the buyer. b. Sale of a wheat crop: harvest is to be made by the seller. c. Sale of copper ore: ore is to be taken out of the ground by the buyer. d. Sale of copper ore: ore is to be taken out of the ground by the seller.
Which of the following statements reflects the marketing concept?
A) Focus on making continuous product improvements. B) Undertake a large-scale selling and promotion effort. C) Emphasize an inside-out perspective. D) Consider customer focus and value as the paths to sales and profits. E) Focus on a product-centered make-and-sell philosophy.