Mike and Lou are going to the mall Mike wants to buy a pair of jeans and Lou

Mike and lou are going to the mall mike wants to buy

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31.Mike and Lou are going to the mall. Mike wants to buy a pair of jeans and Lou wants to buy a pair of Levi boot-cut jeans. Mike illustrates _____ demand while Lou illustrates _____ demand. A. secondary; kinkedB. longitudinal; circularC. external; internalD.primary; selectiveE. selective; primaryPrimary demand is demand for a product class, and selective demand is demand for a particular brand.AACSB: Reflective ThinkingAccessibility: Keyboard NavigationArens - Chapter 02 #31Blooms: ApplyDifficulty: 3 HardLearning Objective: 02-01 Describe the impact of advertising on the economy.Topic: The Economic Impact of Advertising32.What effect does advertising have on consumer demand? In declining markets, when the only information people want is price information, advertising can influence selective demand—demand for a particular brand. But the only effect it will have on primary demand is to slow the rate of decline.AACSB: AnalyticAccessibility: Keyboard NavigationArens - Chapter 02 #32Blooms: UnderstandDifficulty: 3 HardLearning Objective: 02-01 Describe the impact of advertising on the economy.Topic: The Economic Impact of Advertising
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33.Which of the following statements about the effects of advertising on the business cycle is most likely true? We conclude that when business cycles are up, advertising contributes to the increase. When business cycles are down, advertising may act as a stabilizing force by encouraging buyers to continue buying.AACSB: AnalyticAccessibility: Keyboard NavigationArens - Chapter 02 #33Blooms: UnderstandDifficulty: 3 HardLearning Objective: 02-01 Describe the impact of advertising on the economy.Topic: The Economic Impact of Advertising
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