Exams Net
Unrestricted Exams Practice
Home
Exams
Banking
CUET
Defence
Engineering
Finance
GATE
Insurance
International
JEE
LAW
MBA
MCA
Medical
Other
Police
PSC
RRB
SSC
State Govt
Subjectwise
Teacher
SET Exams
UPSC
Aptitude
Algebra and Higher Mathematics
Arithmetic
Commercial Mathematics
Data Based Mathematics
Geometry and Mensuration
Number System and Numeracy
Problem Solving
Board Exams
Andhra
Bihar
CBSE
Gujarat
Haryana
ICSE
Jammu and Kashmir
Karnataka
Kerala
Madhya Pradesh
Maharashtra
Odisha
Tamil Nadu
Telangana
Uttar Pradesh
English
Competitive English
CBSE
CBSE Class 10 Solutions
CBSE Class 12 Solutions
CBSE Question Papers (Pdf)
NCERT Books (Pdf)
NCERT Exemplar Books (Pdf)
NCERT Study Notes (Pdf)
CBSE Study Concepts (Pdf)
NCERT Text Book Class 11 Solutions
NCERT Text Book Class 12 Solutions
ICSE Class 10 Papers
Certifications
Technical
Cloud Tech Certifications
Security Tech Certifications
Management
IT Infrastructure
More
About
Contact Us
Our Apps
Privacy
+
-
Default
Dark
Blue
Green
Violet
Crimson
Red
Cafe
Gold
Orange
Olive
Grey
Test Index
GMAT Verbal Reasoning Practice Test 6
Show Para
Hide Para
Share question:
© examsnet.com
Question : 48 of 100
Marks:
+1
,
-0
Normally, increases in the price of a product decrease its sales except when the price increase accompanies an improvement in the product. Wine is unusual, however. Often increases in the price of a particular producer’s wine will result in increased sales, even when the wine itself is unchanged.
Which of the following, if true, does most to explain the anomaly described above?
The retail wine market is characterized by an extremely wide range of competing products.
Many consumers make decisions about which wines to purchase on the basis of reviews of wine published in books and periodicals.
Consumers selecting wine in a store often use the price charged as their main guide to the wine’s quality.
Wine retailers and producers can generally increase the sales of a particular wine temporarily by introducing a price discount.
Consumers who purchase wine regularly generally have strong opinions about which wines they prefer.
Validate
Go to Question:
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
81
82
83
84
85
86
87
88
89
90
91
92
93
94
95
96
97
98
99
100
Prev Question
Next Question
Advertisements