Which of the following statements is NOT true?

A. Understanding the customer is the premier issue in new-product development.

B. Economic change brings increasing levels of affluence in the short run but economic cycles and price changes in the long run.

C. Sociological and demographic change may appear in such factors as decreasing family size.

D. Political/legal change brings about new trade agreements, tariffs, and government requirements

Question

Irvin

Business

28 February, 12:19

Which of the following statements is NOT true?

A. Understanding the customer is the premier issue in new-product development.

B. Economic change brings increasing levels of affluence in the short run but economic cycles and price changes in the long run.

C. Sociological and demographic change may appear in such factors as decreasing family size.

D. Political/legal change brings about new trade agreements, tariffs, and government requirements

+3

Answers (1)

Know the Answer?

Tommy Gibbs · Answer 1

Letter b is correct.

Explanation:

The affluence effect is dependent on the slope of aggregate demand, that is, when price decreases increase and the consumer gains more purchasing power to consume more goods and services. In the economic cycle, there are several other variants that determine economic activities, not just a single variable such as price, but a set of variables such as the amount of resources and capital and the volume of production.