Unsought goods are characterized as being the kinds of goods that consumers ________. purchase solely for...

Unsought goods are characterized as being the kinds of goods that consumers ________.

purchase solely for business purposes
		do more research on and compare across product dimensions such as color, size, features, and price
		frequently purchase and have little interest in seeking new information about
		would rather not purchase at all
		purchase solely for personal purposes

Solutions

Expert Solution

Option E

Unsought goods are those type of goods that the customers does not normally think of buying but they are forced to buy such type of goods under certain circumstances such as prepaid funeral services, health insurance policy,Accidental policy etc.
These type of goods are purchased only at times of needs, though they are unaware of such products or have no desire of purchasing it, they are forced to purchase it at times of need. For example if you are frequently attacked by a burglar at home you are forced to buy a burglar alarm for safety purpose. In this example burglar alarm is a type of unsought good which was bought only for safety purpose not to fulfill any desire.hence option E is correct.
Unsought goods are the goods about which people have little or no knowledge about. That is they are unaware of such goods as it does not come under the category of desire.
These type of products are not for business purposes but it is used only for personal use. Hence optionA is not the correct choice.
People will not do research on such products unless it is required at most, hence option B is not the correct choice.
These type of goods are not frequently purchased hence optionC is wrong.
Though these products are not purchased frequently,they are purchased under certain circumstances as mentioned before, hence option D is not the correct choice.

Hope the answer is clear to you.please provide positive rating if it was helpful.

Rahul Sunny answered 1 year ago

Next > < Previous

Related Solutions

Examine whether or not US consumers should boycott or increase in the purchase of these goods...

Examine whether or not US consumers should boycott or increase in the purchase of these goods and the effects that boycott or increase in purchase would have on the workers. Should standards be set for work rules in other countries? Or, should work rules be left to the political system in a particular country?

1.Should consumers in, say, the U.S. be required to purchase only goods manufactured in the U.S....

1.Should consumers in, say, the U.S. be required to purchase only goods manufactured in the U.S. even if those goods cost more to produce? As you know, recent trends in political rhetoric and trade indicate a movement away from a global marketplace and more toward protectionist trade policies. Is this a good or bad thing? Explain your answer. 2.Do the tenets or principles of classical liberalism align more closely with a conservative viewpoint toward entitlements, or with a progressive viewpoint...

Two kinds of thread are being compared for strength.

A. Two kinds of thread are being compared for strength. Fifty pieces of each type of thread are tested under similar conditions. Brand A had an average: tensile strength of 78.3 kilograms with a standard deviation of 5.6 kilograms, while brand B had an average tensile strength of 87.2 kilograms with a standard deviation of 6.3 kilograms. Construct a 95% confidence interval for the difference of the population means.B. In a hatch chemical process, two catalysts arc being compared for...

As consumers we purchase many different goods and services every week. Think of one good or service...

As consumers we purchase many different goods and services every week. Think of one good or service that you buy often, and the company that produces it (for example, furniture from ikea or veggies from local Farm) etc Step 1: I want you to write the following information: 1. The specific product and the company that produces it; 2. The number of competitors the company faces for that particular good or service (list some by name if your can); and 3....

The market for computers is characterized by perfect competition. Firms and consumers are price takers and...

The market for computers is characterized by perfect competition. Firms and consumers are price takers and in the long run there is free entry and exit of firms in this industry. All firms are identical in terms of their technological capabilities. Thus the cost function as given below for a representative firm can be assumed to be the cost function faced by each firm in the industry. The total cost function for the representative firm is given by the following...

Suppose there are two consumers, A and B, and two goods, X and Y. The consumers...

Suppose there are two consumers, A and B, and two goods, X and Y. The consumers have the following initial endowments and utility functions: W X A = 2 W Y A = 9 U A ( X , Y ) = X 1 3 Y 2 3 W X B = 6 W Y B = 2 U B ( X , Y ) = 3 X + 4 Y Suppose the price of X is PX=2 and the...

Which of the following is characterized by the subject and the researcher being unaware of which...

Which of the following is characterized by the subject and the researcher being unaware of which subjects are in which groups? Single blind Double blind Semi-blind None of the above Dependent variables are: What you manipulate in a study Outcome measures Typically your interventions A and C Under which level of evidence do animal studies fall? Level 1 Level 2 Level 4 Level 5 ____________ is a type of qualitative research where a researcher takes part in the daily activities...

The market for study desks is characterized by perfect competition. Firms and consumers are price takers...

The market for study desks is characterized by perfect competition. Firms and consumers are price takers and in the long run there is free entry and exit of firms in this industry. All firms are identical in terms of their technological capabilities. Thus the cost function as given below for a representative firm can be assumed to be the cost function faced by each firm in the industry. The total cost function for the representative firm is given by the...

[9] When trying to maximize economic well-being from choosing among the purchase of different goods, the...

[9] When trying to maximize economic well-being from choosing among the purchase of different goods, the individual must consider: A) the prices of the goods. B) his or her limited income. C) the utility received from the different goods. D) all of the above. [10] The goal of an individual in making a spending decision is to purchase the combination of goods and services that: A) is the least expensive. B) allows the greatest amount of saving. C) requires the...

19-9. Based solely on the information provided below, characterize the demands for the following goods as...

19-9. Based solely on the information provided below, characterize the demands for the following goods as being more elastic or more inelastic. A. A 45-cent box of salt that you buy once a year B. A type of high-powered ski boat that you can rent from any one of a number of rental agencies C. A specific brand of bottled water D. Automobile insurance in a state that requires autos to be insured but has only a few insurance companies...

Subjects