Asked by Sophony Henri on May 11, 2024
Verified
______ represents what the consumer considers a product to be worth.
A) Price
B) Value
C) Supply
D) Demand
Consumer Considers
Factors or elements that consumers take into account when making purchasing decisions.
Value
The importance, worth, or usefulness of something, often in terms of monetary worth.
Price
The amount of money required to purchase a good or service.
- Analyze the connection between price, value, and how consumers perceive it.
Verified Answer
SV
Surjit VictorMay 15, 2024
Final Answer :
B
Explanation :
Value represents what the consumer considers a product to be worth, reflecting the consumer's assessment of the benefits of the product relative to its cost.
Learning Objectives
- Analyze the connection between price, value, and how consumers perceive it.
Related questions
Consumers Typically Do Not Want the Cheapest Product Available, They ...
In What Type of Pricing Customers Are Encouraged to Believe ...
Lindsay Believes That Her Customers Prefer to Wait Until the ...
People Often Equate Quality with Price ...
When Economists Refer to an Economy's Price Level,they Indicate ...