The difference created by the way a good is classified. Introduction: Consumer goods and services are those goods and services which are purchased by consumer for final consumption and not for further processing for resale purpose.

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Chapter 14.2, Problem 14.2BQ

Summary Introduction

To determine: The difference created by the way a good is classified.

Introduction:

Consumer goods and services are those goods and services which are purchased by consumer for final consumption and not for further processing for resale purpose.

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Imagine a vending machine that would charge more for hot drinks—coffee, tea, and cocoa—during cold weather. What is your opinion of a temperature-sensitive vending machine? Consumers who live in colder climates might pay more over a longer time period each year than consumers who live in warmer climates. Would your opinion change if alternatives were nearby, such as a convenience store or a vending machine that is not temperature-sensitive? Do you think such a machine would be successful? Why or why not?

There are many categories of goods available in the market namely, normal, inferior and luxury goods. At the same time, many factors could affect their behaviours in terms of demand and supply. From your understanding what would be the effect of inferior goods when the income of the consumer drops? You are required to discuss this scenario using relevant graphs.

What is a good or service that charges different rates on different groups of people (e.g., gender, age, income class)? Discuss why the difference in charge exists.

Answer 2

Question

Chapter 14.2, Problem 14.2BQ

Summary Introduction

To determine: The difference created by the way a good is classified.

Introduction:

Consumer goods and services are those goods and services which are purchased by consumer for final consumption and not for further processing for resale purpose.

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Answer 3

Question

Chapter 14.2, Problem 14.2BQ

Summary Introduction

To determine: The difference created by the way a good is classified.

Introduction:

Consumer goods and services are those goods and services which are purchased by consumer for final consumption and not for further processing for resale purpose.

Expert Solution & Answer

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Answer 4

Question

Chapter 14.2, Problem 14.2BQ

Summary Introduction

To determine: The difference created by the way a good is classified.

Introduction:

Consumer goods and services are those goods and services which are purchased by consumer for final consumption and not for further processing for resale purpose.

Expert Solution & Answer

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Answer 5

Chapter 14.2, Problem 14.2BQ

Summary Introduction

To determine: The difference created by the way a good is classified.

Introduction:

Consumer goods and services are those goods and services which are purchased by consumer for final consumption and not for further processing for resale purpose.

Answer 6

Chapter 14.2, Problem 14.2BQ

Summary Introduction

To determine: The difference created by the way a good is classified.

Introduction:

Consumer goods and services are those goods and services which are purchased by consumer for final consumption and not for further processing for resale purpose.

Answer 7

Chapter 14.2, Problem 14.2BQ

Summary Introduction

To determine: The difference created by the way a good is classified.

Introduction:

Consumer goods and services are those goods and services which are purchased by consumer for final consumption and not for further processing for resale purpose.

Answer 8

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Answer 11

Ch. 14.1 - Prob. 14.1AQ Ch. 14.2 - Prob. 14.2AQ Ch. 14.2 - Prob. 14.2BQ Ch. 14.2 - Prob. 1TP Ch. 14.2 - Prob. 2TP Ch. 14.2 - Prob. 3TP Ch. 14.2 - Prob. 4TP Ch. 14.3 - Prob. 14.3AQ Ch. 14.3 - Prob. 1MED Ch. 14.4 - Prob. 5TP

The difference created by the way a good is classified. Introduction: Consumer goods and services are those goods and services which are purchased by consumer for final consumption and not for further processing for resale purpose.

Solution Summary: The author explains that the way a good is classified creates difference in supply chain chosen and profit margin of the company.

Concept explainers

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To determine: The difference created by the way a good is classified.

Introduction:

Consumer goods and services are those goods and services which are purchased by consumer for final consumption and not for further processing for resale purpose.

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Chapter 14 Solutions

The difference created by the way a good is classified. Introduction: Consumer goods and services are those goods and services which are purchased by consumer for final consumption and not for further processing for resale purpose.

Solution Summary: The author explains that the way a good is classified creates difference in supply chain chosen and profit margin of the company.

Concept explainers

Videos

To determine: The difference created by the way a good is classified. Introduction: Consumer goods and services are those goods and services which are purchased by consumer for final consumption and not for further processing for resale purpose.

Want to see the full answer?

Chapter 14 Solutions

To determine: The difference created by the way a good is classified.

Introduction:

Consumer goods and services are those goods and services which are purchased by consumer for final consumption and not for further processing for resale purpose.