SOLVED

11. A given percentage increase in consumer demand can lead to a much larger percentage increase in the demand for plant and equipment necessary to produce the additional output. Economists refer to this as the ________. a. derived demand b. inelastic demand c. acceleration effect d. straight rebuy e. sales cycle 12. The total demand for many business goods and services is ________ —that is, not much affected by price changes. a. derived b. fluctuating c. accelerated d. multiple e. inelastic 13. The business buyer faces many decisions in making a purchase. The number of decisions depends on the buying situation. All of the following contribute to the number of decisions required EXCEPT the ________. a. complexity of the problem being solved b. newness of the buying requirement c. number of people involved d. applicability of situation to mission statement e. time required 14. The purchasing department buys office supplies on a routine basis. This type of purchase is classified as a ________. a. straight rebuy b. modified rebuy c. new task d. secondary purchase e. preordained purchase 15. Purchasing a new security system or renting a new office building is best characterized as a ________. a. modified rebuy b. regular buy c. straight rebuy d. new rebuy e. new task  Â